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Coronavirus: Average household will see £1,200 wiped off pay packets by 2025

Rishi Sunak Britain Government crisis Coronavirus
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The coronavirus crisis will wipe £1,200 off annual salaries by 2025, a new report claims. Think Tank the Resolution Foundation said the pandemic is set to cause permanent damage to incomes after Chancellor Rishi Sunak warned unemployment could reach 2.6million by mid-2021. "The Covid crisis is causing immense damage to the public finances, and permanent damage to family finances too, with pay packets on track to be £1,200 a year lower than pre-pandemic expectations," Torsten Bell, chief executive of the Resolution Foundation, said.

In a new report published on Thursday, it said that "the combined effects of weaker pay growth and higher unemployment will serve to prolong Britain's living standards squeeze".

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United States
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Cases: 46 252 513
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Brazil
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Deaths: 141 607
Recovered: 0
Russia
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Deaths: 237 619
Recovered: 0
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