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The Bank of England’s chief economist, Andy Haldane, has said the policy support that prevented UK unemployment from rising as high as 5 million during this year’s pandemic should be removed only once the risk to jobs has been reduced.
In an interview with the Guardian before the introduction of new tier 4 curbs for London and much of south-east England, Haldane said he was hopeful of a rapid bounce-back in activity thanks to the vaccine but it was not the time to remove the “insurance policy” that had so far spared Britain from a return to the mass joblessness of the 1980s.
Read more at the Guardian.