The UK economy will “get worse before it gets better” as the country battles the pandemic, Chancellor Rishi Sunak has warned.
The chancellor told MPs the new national restrictions were necessary to control the spread of coronavirus.
However, he said they would have a further significant economic impact,
“Even with the significant economic support we’ve provided, over 800,000 people have lost their job since February,” he said.
“While the economy grew as the country opened up over the summer, it remained 6.1% smaller than it was before the crisis,” he added.
Mr Sunak said he would “bear in mind” calls to extend business rate relief and provide further support for the hospitality sector at the Budget in March.