The UK is expected to be declared in a state of recession on Wednesday for the first time since the financial crisis, after GDP nosedived by 21 per cent between April and June.
The figure, expected to be confirmed by the Office of National Statistics (ONS) on Wednesday, marks the second three-month period of decline in the nation’s Gross Domestic Product (GDP) – and the worst second-quarter contraction in western Europe.
The rapid plummet of GDP follows a 2.2 per cent fall from January to March, marking the first consecutive periods of decline since 2009.
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It comes amid reports Rishi Sunak may consider delaying his autumn budget in the event of a second spike of the virus.
The chancellor is understood to be keen to begin the process of rebuilding the economy from the impact of the pandemic, the Financial Times reports, but is apprehensive about committing to spending if further lockdowns are necessary.
1/50 11 August 2020
A woman hydrates in the sun after open water swimming at the West Reservoir Centre in north London
Tolga Akmen/AFP via Getty
2/50 10 August 2020
Prime Minister Boris Johnson takes part in an archery session as he visits Premier Education Summer Camp at Sacred Heart of Mary Girls’ in Upminster
Reuters
3/50 9 August 2020
People cycle through Cambridge as the heatwave continues in Britain
EPA
4/50 8 August 2020
Healthcare workers take part in a protest in London over pay conditions in the NHS
Getty
5/50 7 August 2020
Emergency services make their way along the seafront on Bournemouth beach in Dorset on one of the hottest days of the year
PA
6/50 6 August 2020
Alison Murphy poses for a picture by husband Peter as she walks through a field of sunflowers in Altrincham, Cheshire
PA
7/50 5 August 2020
Pakistan’s Abid Ali being bowled by England’s Jofra Archer during day one of the First Test match at the Emirates Old Trafford, Manchester
PA
8/50 4 August 2020
The ‘Timbuktu tumblers’ from Kenya perform their balancing act on the Southsea waterfront as Zippos Circus reopens in Portsmouth
Rex
9/50 3 August 2020
Pelicans interact with a visitor in St James’s Park in London
PA
10/50 2 August 2020
Lewis Hamilton drives with a puncture towards the finish line to win the Formula One British Grand Prix at Silverstone
POOL/AFP via Getty
11/50 1 August 2020
Arsenal’s Pierre-Emerick Aubameyang celebrates with the trophy and teammates after winning the FA Cup, as play resumes behind closed doors following the outbreak of the coronavirus disease
Pool via Reuters
12/50 31 July 2020
People enjoy the sunny weather at a Bournemouth Beach
Reuters
13/50 30 July 2020
An artist puts the finishing touches to a wax figure of Prime Minister Boris Johnson, in the entrance line at Madame Tussaud’s in London, as the attraction prepares to reopen to the public following the easing of lockdown restrictions in England
PA
14/50 29 July 2020
A member of staff stands on Ai Weiwei’s ‘History of Bombs’ during a photocall for the Chinese artist’s new work on display at the Imperial War Museum in London
PA
15/50 28 July 2020
Stuart Broad celebrates after taking the wicket of West Indies batsman Kraigg Brathwaite. It was a milestone wicket in his career, reaching his 500th Test Wicket for England. They went on to beat the West Indies in Manchester and therefore win the series 2-1
Getty/ECB
16/50 27 July 2020
Demonstrators protest outside the Tate Modern in London over proposed job losses in the wake of the Covid-19 lockdown. The group believe that the emergency money provided by the government to culture-based organisations should be used to retain all jobs and that any other use of the funding is unfair. The gallery on London’s South Bank, as well as the Tate Britain, Tate Liverpool and Tate St Ives, reopened today after closing in March due to lockdown measures meant to curb the spread of the novel coronavirus
Getty
17/50 26 July 2020
Harry Maguire shakes hands with Leicester City manager Brendan Rodgers after Manchester United beat the Foxes. The win meant they finished third in the Premier League and Leicester finished outside a Champions League place in fourth
Pool via Reuters
18/50 25 July 2020
Women exercise using pool noodles during an aqua fit class at a gym in Sunbury-on-Thames after gyms and swimming pools were allowed to reopen
AFP via Getty
19/50 24 July 2020
Mayor of London Sadiq Khan tries out a new Streetspace protected cycle lane in London at the launch a new online cycle training scheme
PA
20/50 23 July 2020
A customer has her hair cut outside at Blade Hairdressers in Soho in London
Getty
21/50 22 July 2020
Liverpool’s English midfielder Jordan Henderson lifts the Premier League trophy during the presentation following the English Premier League football match between Liverpool and Chelsea at Anfield in Liverpool. Liverpool on Wednesday lifted the Premier League trophy at the famous Kop stand at Anfield after their final home game of the season
AFP via Getty
22/50 21 July 2020
Vivienne Westwood demonstrates outside the Old Bailey in support of Julian Assange in London
Reuters
23/50 20 July 2020
Comet Neowise in the skies over the Lovell Telescope at Jodrell Bank in Cheshire
PA
24/50 19 July 2020
Mods and rockers unite on Madeira Drive, Brighton, for a demonstration to call for the reopening of the road which Brighton & Hove City Council plans to keep closed permanently
PA
25/50 18 July 2020
People enjoy the sunny weather at Painshill, an 18th century landscape garden in Cobham, Surrey
PA
26/50 17 July 2020
Captain Sir Thomas Moore receives his knighthood from Queen Elizabeth, during a ceremony at Windsor Castle
AP
27/50 16 July 2020
Red Arrows do a flypast during the Graduation Ceremony of the Queen’s Squadron at RAF College Cranwell, Lincolnshire
The Daily Telegraph/PA
28/50 15 July 2020
Jen Reid poses in front of a black resin and steel statue titled ‘A Surge of Power (Jen Reid) 2020’, which is based on her by Marc Quinn, where it has been installed on the vacant Edward Colston plinth in Bristol city centre. The original statue was pulled down and thrown into Bristol Harbour during Black Lives Matter protests
PA
29/50 14 July 2020
Fields of echium and borage in full flower near the town of Thaxted in Essex
PA
30/50 13 July 2020
People ride a rollercoaster in a theme park next to Southend pier. Many businesses in tourism and hospitality have been able to reopen after some lockdown measures were eased
Getty
31/50 12 July 2020
West Indies’s John Campbell and Jason Holder celebrate winning the test as England’s Rory Burns and teammates look on dejected
Reuters
32/50 11 July 2020
Chicldren play in the water during a cricket match between Abinger and Worplesdon & Nurpham in Abinger Hammer, Surrey
Reuters
33/50 10 July 2020
People gather for the funeral of Dame Vera Lynn in Ditchling, England. During World War II she travelled to the frontlines, including Burma, entertaining British troops and boosting morale. She died on 18 June at her home in West Sussex
Getty
34/50 9 July 2020
Artist Anish Kapoor looks into his sculpture ‘Sky Mirror’ at Houghton Hall, King’s Lynn, ahead of the opening of his largest UK exhibition of outdoor sculptures
PA
35/50 8 July 2020
Players take a knee in support of the Black Lives Matter movement on the first day of the first Test cricket match between England and the West Indies at the Ageas Bowl in Southampton
AFP via Getty
36/50 7 July 2020
A circus performer from the Association of Circus Proprietors in Whitehall, London. The association handed a petition to Downing Street to ask Prime Minister Boris Johnson to allow circuses to reopen
EPA
37/50 6 July 2020
Bamburgh Castle in Northumberland, which re-opened to the public after being closed due to the coronavirus lockdown
PA
38/50 5 July 2020
People visit Columbia Road Flower Market, London, as it reopens following the easing of coronavirus lockdown restrictions across England
PA
39/50 4 July 2020
A member of bar staff wearing PPE in the form of a face mask, pours drinks inside the The Goldengrove in Stratford
AFP via Getty
40/50 3 July 2020
Cardboard cutouts of fans in the stands prior to the League One play-off semi final match between Portsmouth and Oxford United at Fratton Park
PA
41/50 2 July 2020
A diver cleans the inside window of the seal tank at Tynemouth Aquarium in North Shields, as it prepares to open on Saturday after further coronavirus lockdown restrictions are lifted in England
PA
42/50 1 July 2020
Slackliner Sandor Nagy practices on the beach in Boscombe, on the south coast of England
AFP via Getty
43/50 30 June 2020
(left to right) Sinn Fein leader Mary Lou McDonald, former Sinn Fein leader Gerry Adams, and Deputy First Minister Michelle O’Neill attending the funeral of senior Irish Republican and former leading IRA figure Bobby Storey in west Belfast
PA
44/50 29 June 2020
Former Team GB Rhythmic Gymnastic dancer Hannah Martin during a training session at Ouse Valley Viaduct in Sussex
Reuters
45/50 28 June 2020
People visit Bolton Abbey in Yorkshire, that recently reopened following the easing of coronavirus lockdown restriction
PA
46/50 27 June 2020
A protest for Justice for Shukri Abdi on Trafalgar Square in London, following a raft of Black Lives Matter protests across the UK
PA
47/50 26 June 2020
Police at the scene of an incident at the Park Inn Hotel in central Glasgow. Scottish police said armed officers shot dead a man after a suspected stabbing in the city centre left six others injured, including one of their colleagues. Several roads were closed and the surrounding area was cordoned off
AFP via Getty
48/50 25 June 2020
A horse is washed down at Haydock Racecourse
PA
49/50 24 June 2020
People enjoy the hot weather on Margate beach
Reuters
50/50 23 June 2020
Tony Bennett the owner of The Devereux pub in Temple, London. Pub and hospitality bosses have cheered the Government’s proposals to allow customers through their doors again on July 4 as “a welcome relief”. PA Photo. Picture date: Tuesday June 23, 2020. Prime Minister Boris Johnson said on Tuesday that pubs, restaurants and cinemas will be able to reopen from July 4, with “one metre-plus” distancing measures in place
PA
1/50 11 August 2020
A woman hydrates in the sun after open water swimming at the West Reservoir Centre in north London
Tolga Akmen/AFP via Getty
2/50 10 August 2020
Prime Minister Boris Johnson takes part in an archery session as he visits Premier Education Summer Camp at Sacred Heart of Mary Girls’ in Upminster
Reuters
3/50 9 August 2020
People cycle through Cambridge as the heatwave continues in Britain
EPA
4/50 8 August 2020
Healthcare workers take part in a protest in London over pay conditions in the NHS
Getty
5/50 7 August 2020
Emergency services make their way along the seafront on Bournemouth beach in Dorset on one of the hottest days of the year
PA
6/50 6 August 2020
Alison Murphy poses for a picture by husband Peter as she walks through a field of sunflowers in Altrincham, Cheshire
PA
7/50 5 August 2020
Pakistan’s Abid Ali being bowled by England’s Jofra Archer during day one of the First Test match at the Emirates Old Trafford, Manchester
PA
8/50 4 August 2020
The ‘Timbuktu tumblers’ from Kenya perform their balancing act on the Southsea waterfront as Zippos Circus reopens in Portsmouth
Rex
9/50 3 August 2020
Pelicans interact with a visitor in St James’s Park in London
PA
10/50 2 August 2020
Lewis Hamilton drives with a puncture towards the finish line to win the Formula One British Grand Prix at Silverstone
POOL/AFP via Getty
11/50 1 August 2020
Arsenal’s Pierre-Emerick Aubameyang celebrates with the trophy and teammates after winning the FA Cup, as play resumes behind closed doors following the outbreak of the coronavirus disease
Pool via Reuters
12/50 31 July 2020
People enjoy the sunny weather at a Bournemouth Beach
Reuters
13/50 30 July 2020
An artist puts the finishing touches to a wax figure of Prime Minister Boris Johnson, in the entrance line at Madame Tussaud’s in London, as the attraction prepares to reopen to the public following the easing of lockdown restrictions in England
PA
14/50 29 July 2020
A member of staff stands on Ai Weiwei’s ‘History of Bombs’ during a photocall for the Chinese artist’s new work on display at the Imperial War Museum in London
PA
15/50 28 July 2020
Stuart Broad celebrates after taking the wicket of West Indies batsman Kraigg Brathwaite. It was a milestone wicket in his career, reaching his 500th Test Wicket for England. They went on to beat the West Indies in Manchester and therefore win the series 2-1
Getty/ECB
16/50 27 July 2020
Demonstrators protest outside the Tate Modern in London over proposed job losses in the wake of the Covid-19 lockdown. The group believe that the emergency money provided by the government to culture-based organisations should be used to retain all jobs and that any other use of the funding is unfair. The gallery on London’s South Bank, as well as the Tate Britain, Tate Liverpool and Tate St Ives, reopened today after closing in March due to lockdown measures meant to curb the spread of the novel coronavirus
Getty
17/50 26 July 2020
Harry Maguire shakes hands with Leicester City manager Brendan Rodgers after Manchester United beat the Foxes. The win meant they finished third in the Premier League and Leicester finished outside a Champions League place in fourth
Pool via Reuters
18/50 25 July 2020
Women exercise using pool noodles during an aqua fit class at a gym in Sunbury-on-Thames after gyms and swimming pools were allowed to reopen
AFP via Getty
19/50 24 July 2020
Mayor of London Sadiq Khan tries out a new Streetspace protected cycle lane in London at the launch a new online cycle training scheme
PA
20/50 23 July 2020
A customer has her hair cut outside at Blade Hairdressers in Soho in London
Getty
21/50 22 July 2020
Liverpool’s English midfielder Jordan Henderson lifts the Premier League trophy during the presentation following the English Premier League football match between Liverpool and Chelsea at Anfield in Liverpool. Liverpool on Wednesday lifted the Premier League trophy at the famous Kop stand at Anfield after their final home game of the season
AFP via Getty
22/50 21 July 2020
Vivienne Westwood demonstrates outside the Old Bailey in support of Julian Assange in London
Reuters
23/50 20 July 2020
Comet Neowise in the skies over the Lovell Telescope at Jodrell Bank in Cheshire
PA
24/50 19 July 2020
Mods and rockers unite on Madeira Drive, Brighton, for a demonstration to call for the reopening of the road which Brighton & Hove City Council plans to keep closed permanently
PA
25/50 18 July 2020
People enjoy the sunny weather at Painshill, an 18th century landscape garden in Cobham, Surrey
PA
26/50 17 July 2020
Captain Sir Thomas Moore receives his knighthood from Queen Elizabeth, during a ceremony at Windsor Castle
AP
27/50 16 July 2020
Red Arrows do a flypast during the Graduation Ceremony of the Queen’s Squadron at RAF College Cranwell, Lincolnshire
The Daily Telegraph/PA
28/50 15 July 2020
Jen Reid poses in front of a black resin and steel statue titled ‘A Surge of Power (Jen Reid) 2020’, which is based on her by Marc Quinn, where it has been installed on the vacant Edward Colston plinth in Bristol city centre. The original statue was pulled down and thrown into Bristol Harbour during Black Lives Matter protests
PA
29/50 14 July 2020
Fields of echium and borage in full flower near the town of Thaxted in Essex
PA
30/50 13 July 2020
People ride a rollercoaster in a theme park next to Southend pier. Many businesses in tourism and hospitality have been able to reopen after some lockdown measures were eased
Getty
31/50 12 July 2020
West Indies’s John Campbell and Jason Holder celebrate winning the test as England’s Rory Burns and teammates look on dejected
Reuters
32/50 11 July 2020
Chicldren play in the water during a cricket match between Abinger and Worplesdon & Nurpham in Abinger Hammer, Surrey
Reuters
33/50 10 July 2020
People gather for the funeral of Dame Vera Lynn in Ditchling, England. During World War II she travelled to the frontlines, including Burma, entertaining British troops and boosting morale. She died on 18 June at her home in West Sussex
Getty
34/50 9 July 2020
Artist Anish Kapoor looks into his sculpture ‘Sky Mirror’ at Houghton Hall, King’s Lynn, ahead of the opening of his largest UK exhibition of outdoor sculptures
PA
35/50 8 July 2020
Players take a knee in support of the Black Lives Matter movement on the first day of the first Test cricket match between England and the West Indies at the Ageas Bowl in Southampton
AFP via Getty
36/50 7 July 2020
A circus performer from the Association of Circus Proprietors in Whitehall, London. The association handed a petition to Downing Street to ask Prime Minister Boris Johnson to allow circuses to reopen
EPA
37/50 6 July 2020
Bamburgh Castle in Northumberland, which re-opened to the public after being closed due to the coronavirus lockdown
PA
38/50 5 July 2020
People visit Columbia Road Flower Market, London, as it reopens following the easing of coronavirus lockdown restrictions across England
PA
39/50 4 July 2020
A member of bar staff wearing PPE in the form of a face mask, pours drinks inside the The Goldengrove in Stratford
AFP via Getty
40/50 3 July 2020
Cardboard cutouts of fans in the stands prior to the League One play-off semi final match between Portsmouth and Oxford United at Fratton Park
PA
41/50 2 July 2020
A diver cleans the inside window of the seal tank at Tynemouth Aquarium in North Shields, as it prepares to open on Saturday after further coronavirus lockdown restrictions are lifted in England
PA
42/50 1 July 2020
Slackliner Sandor Nagy practices on the beach in Boscombe, on the south coast of England
AFP via Getty
43/50 30 June 2020
(left to right) Sinn Fein leader Mary Lou McDonald, former Sinn Fein leader Gerry Adams, and Deputy First Minister Michelle O’Neill attending the funeral of senior Irish Republican and former leading IRA figure Bobby Storey in west Belfast
PA
44/50 29 June 2020
Former Team GB Rhythmic Gymnastic dancer Hannah Martin during a training session at Ouse Valley Viaduct in Sussex
Reuters
45/50 28 June 2020
People visit Bolton Abbey in Yorkshire, that recently reopened following the easing of coronavirus lockdown restriction
PA
46/50 27 June 2020
A protest for Justice for Shukri Abdi on Trafalgar Square in London, following a raft of Black Lives Matter protests across the UK
PA
47/50 26 June 2020
Police at the scene of an incident at the Park Inn Hotel in central Glasgow. Scottish police said armed officers shot dead a man after a suspected stabbing in the city centre left six others injured, including one of their colleagues. Several roads were closed and the surrounding area was cordoned off
AFP via Getty
48/50 25 June 2020
A horse is washed down at Haydock Racecourse
PA
49/50 24 June 2020
People enjoy the hot weather on Margate beach
Reuters
50/50 23 June 2020
Tony Bennett the owner of The Devereux pub in Temple, London. Pub and hospitality bosses have cheered the Government’s proposals to allow customers through their doors again on July 4 as “a welcome relief”. PA Photo. Picture date: Tuesday June 23, 2020. Prime Minister Boris Johnson said on Tuesday that pubs, restaurants and cinemas will be able to reopen from July 4, with “one metre-plus” distancing measures in place
PA
Speaking to the publication over the spending plan being published in autumn, a source close to Mr Sunak said: “While it’s very likely to happen there remains an element of uncertainty.
“If we have a series of local lockdowns and second spike it’s not clear that would be the right time for a budget.”
ONS data has shown around 730,000 UK workers have been removed from the payrolls of British companies since March, when the coronavirus lockdown began, with employment also dropping by the largest amount in a single quarter since 2009.
The Bank of England has already suggested that it expects the downturn to be less severe than first feared – however officials also anticipate recovery could take longer than previously predicted.
GDP was forecasted to shrink by 9.5 per cent this year by the bank, which had warned in May of the potential of a 14 per cent slump across 2020.
However, hopes of a V-shaped recovery were dashed, with the bank saying the economy is not expected to jump back to pre-virus levels until the end of 2021.
Additional reporting by PA
