The UK has been plunged into the deepest recession on record. It’s the worst performance of any G7 nation during the pandemic, as GDP shrank by more than 20 per cent in the three months till June.

The chancellor, Rishi Sunak, said "hard times are here" - warning that many more people would lose their jobs in the months ahead. The months of lockdown have sent output plunging across the board, effectively wiping out 17 years of economic growth.