Changing the economic geography

By Paul Swinney | 08 March 2021

Last week’s Budget was perhaps the most important in a generation. After a year in which the UK’s economic output fell by record levels, millions of people lost their jobs even more were furloughed, the country was waiting to find out what our recovery will look like, and what shape the future economy will take.

Many people will no doubt be relieved that the chancellor averted a cliff edge by extending the furlough scheme, business support, and the £20 UC top up. These measures will be especially welcome in places that have been hit hardest by COVID-19. In Crawley for example, where the local economy’s reliance on aviation has left almost one in five workers on furlough and unemployment has risen at the highest rate in the UK.

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