Reaction: UK economy ‘could shrink by 35%’ by June due to coronavirus

Office for Budget Responsibility’s warning is considered too optimistic by several analysts

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The City of London
(Image credit: TOLGA AKMEN/AFP via Getty Images)

The coronavirus pandemic could cause the UK economy to shrink by a record 35% by June, according to the independent tax and spending watchdog.

The Office for Budget Responsibility said that its projection was based on an assumption that the current lockdown would last for three months.

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