UK recovery on hold owing to Covid second wave, says OBR official

MPs also hear that national debt is now more sensitive to movements in interest rates

Britain’s economic recovery from the coronavirus pandemic has been put “on hold” as a result of the second wave of the virus and tougher government restrictions, a senior Treasury official has warned.

Charlie Bean, a former Bank of England deputy governor who sits on the government’s budget responsibility committee, said a rapid rebound from lockdown earlier this year had stalled at the start of autumn amid a jump in coronavirus cases.

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