British treasury chief warns of recession

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LONDON, July 10 (Xinhua) — British Chancellor of the Exchequer Rishi Sunak warned on Thursday that the country is facing a deep recession.

“We are entering one of the most severe recessions this country has ever seen,” Sunak told the BBC. “That is of course going to have a significant impact on unemployment and on job losses.”

The remarks came as the British government set out a package of fresh measures to support jobs and boost the economy as part of a comprehensive plan to secure the country’s recovery from the coronavirus pandemic.

As the second part of a three-phase plan, the measures are designed to support jobs by focusing on skills and young people, and protect jobs through a value-added-tax cut for the hospitality sector and an “Eat Out to Help Out” discount scheme for diners, said a statement by the treasury on Wednesday.

Meanwhile, dubbed “Kickstart Scheme,” a new 2-billion-pound (about 2.5-billion-U.S.-dollar) package will be launched to create “new, fully subsidised jobs for young people” across the country, it added. Enditem

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