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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

Truss? Brexit? Covid? Who is really to blame for the Tories’ ‘fiscal hole’?

Liz Truss Brexit United Kingdom David Cameron Kwasi Kwarteng Economy Bank of England European Union
Boarded-up shops in London
Boarded-up shops in London during the pandemic, April 2020. Covid-19 ripped a £400bn hole in the government’s finances Photograph: Toby Melville/Reuters

The Pandemic

Covid-19 ripped a £400bn hole in the government’s finances. The money was used largely to support the economy and it succeeded in allowing industries and workers to bounce back once restrictions were lifted.

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