Government-backed business loans pass £50bn
1.2 million businesses receive coronavirus support loans.
UK in first technical recession in 11 years
Economy shrinks by 20.4% in Q2 2020.
Employment falls by largest amount since 2009
Over-65s most likely to be affected by job losses.
One in three firms plan redundancies
More job cuts expected by the autumn.
Economic hit ‘less severe than feared’
Bank of England’s first forecast since the pandemic hit.