express– Chancellor Rishi Sunak is expected to raise taxes in his March budget as the UK economy continues to suffer as a result of the coronavirus pandemic. The UK had been headed for a double-dip recession, but it now looks like the economy will narrowly avoid this fate despite tightened lockdown measures since the Christmas period. Economists are indicating that the pre-Christmas tier systems helped the economy grow by 0.5 percent before Prime Minister Boris Johnson implemented new, more restrictive measures. Paul Dales, chief UK economist at Capital Economics, even claimed the UK economy may have actually performed better had lockdowns been imposed throughout December.
January 7, 2019