Asked by in ITV’s Robert Peston Show on whether the UK will have the fastest recovery for a century, BoE Chief Economist Andy Haldane said, “yes, as it was the sharpest recession to begin with”.
Haldane explained that people are “desperate to get their lives back, desperate to get out spending and socializing and working.” .
About GBP 150B has been saved over the past year, mostly by higher income house holds. “If some of those savings do get spent, even a small amount of them, we’re talking abut a pretty rip roaring recovery.”
“When it comes, it will come fast, and it will be large.”
— Peston (@itvpeston) March 24, 2021