Recovery must leave nobody behind after worst slump in national wealth for over 300 years. Renew £20 Universal Credit rise.

The latest national wealth (GDP) figures show the UK economy shrank by a record 9.9% in 2020, the worst fall since 1709. Liberal Democrats Treasury Spokesperson Christine Jardine MP said:

"We have all seen the devastating effect Coronavirus has had in the past year and the hardship it has created, but these figures put into stark reality what a challenge we face in repairing lives and the economy.

"The Chancellor must use the spring Budget to outline how he will build a sustainable recovery that leaves nobody behind. To do that we will need longer, more extensive furlough support that will bring those who've been excluded under the umbrella of Government support and a renewal of the £20 Universal Credit uplift.

"The Government must rule out an austerity budget and commit to the long-term investment to create jobs, make the economy greener and grow our way out of this crisis."