Rishi Sunak is being urged to "boost it like Biden" by quadrupling planned crisis spending to £190 billion to get the economy back on track. The think tank said Mr Sunak must match the ambition of US President Joe Biden's new administration or the UK economy risks falling into a "stagnation trap" with about half the rate of economic recovery. However, a recovery plan worth £190 billion - equivalent to around 8.6% of the value of the economy - would deliver a faster recovery and halve the number of job losses. "Otherwise we will face years of unnecessary economic pain, with fewer jobs, less investment and a slower recovery for everyone. "It's time for the UK to boost it like Biden."

Source: Daily Mirror February 17, 2021 00:00 UTC