Boris Johnson has been told he must spend big to avoid a new Great Depression. A report today warns 10% could be out of work by the end of the year, the highest since 1938.
Shoppers are also being asked to help by splashing out when shops reopen. It comes as unemployment could top four million people as the coronavirus crisis crushes our economy – reaching levels last seen after the Great Depression of the 1930s.
A report by the Learning and Work Institute out today says the “sharpest ever rises are taking unemployment to historic highs”.
House of Lords Economic Affairs Committee chair Lord Forsyth warned: “A great tsunami is going to sweep away the jobs of many people who thought they were in secure employment.” The report says: