UK Economic Outlook Summer 2020
In this video, Garry outlines the direct impacts of the Covid-19 pandemic on the UK economy, and analyses the policy responses. He particularly focuses on the furlough scheme as a potential mitigating factor.
Overview
The economic outlook in the United Kingdom and other countries is extremely uncertain at the moment and depends critically on the spread of Covid-19 and the public policy response to it. Getting policies right can really help take the sting out of the Covid-19 crisis. My concern is that recent policy changes will make matters worse than they need be.
Key learning objectives:
Outline the channels by which Covid-19 and policies to combat it affect the UK economy
What is the furlough scheme?
What are the costs and benefits of extending the furlough scheme?
Summary
Expert
Garry Young
Garry is the Director of Macroeconomic Modelling and Forecasting at the National Institute of Economic and Social Research, the UK’s oldest independent research institute. His research interests cover all aspects of applied macroeconomics and policy. Garry rejoined NIESR in 2017 following 17 years working on monetary policy and financial stability at the Bank of England.
