Covid Hits UK Economy Harder Than Most Other Countries

Britain’s economy is still suffering from long Covid. The unmatched spike in public debt, the 1.2 million extra people on sickness benefits, the record postwar tax burden, the bulging size of the state and — above all — weak economic growth are the lasting symptoms of decisions taken during the pandemic. But some of the harm was purely accidental.

“I will be honest, this was a mistake,” says Tim Leunig, referring to size of the £70 billion ($93.2 billion) furlough program he designed to protect people’s jobs and income after the country shut down in March 2020.