Britain is officially in its deepest recession since records began following the unprecedented economic shutdown in response to the Covid19 pandemic. In the past six months, the UK has shed close to three quarters of a million jobs - a grim foretaste of what could be the kind of mass unemployment not seen in the UK since the 1980s. PTO spoke to James Meadway about why Britain's recession is more severe than those faced by comparable economies, whether central bank economic crisis fighting measures may lay the basis for a financial crisis, and why the Government could be forced to extend the furlough scheme beyond the autumn.
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