Sunak: U.K. Economy to Return to Pre-Covid GDP by Mid-2022

The Prime Minister outlined a cautious roadmap to ease restrictions, highlighting the NHS's success in vaccinating over 20 million people. The Office for Budget Responsibility (OBR) forecasts a faster economic recovery, expecting the economy to return to pre-COVID levels by mid-next year. Despite this, the long-term economic impact of COVID-19 remains significant, with the economy projected to be 3% smaller in five years. The OBR predicts economic growth of 4% this year and 7.3% in 2022, with lower unemployment rates due to successful interventions.

What was highlighted as a major success in the Prime Minister's plan to ease restrictions?

• The reduction in national debt

• The success of the NHS in vaccinating over 20 million people

• The decrease in inflation rates

• The increase in international trade

According to the OBR, when is the economy expected to return to its pre-COVID level?

• In two years

• By the middle of next year

• By the end of this year

• In five years

What long-term impact does the OBR forecast for the economy due to COVID-19?

• The economy will shrink by 10%

• The economy will be 3% smaller

• The economy will grow by 5%

• The economy will remain unchanged

What growth rate does the OBR forecast for the economy in 2022?

• 5.5%

• 7.3%

• 6%

• 4%

How has the expected peak unemployment rate changed due to government interventions?

• It decreased to 6.5%

• It increased to 15%

• It remained the same

• It increased to 12%