How likely is a V-shaped recovery for the UK economy?

Andy Haldane's caveat is fascinating here - the UK will EITHER experience a V-shaped recovery or risks 1980s-style levels of unemployment.

In essence, the "have your cake and eat it school of economics": that said, there's lots of interest here, not least the size of the monetary intervention, with £745 bn of QE having been undertaken, equivalent to around 45% of UK GDP and larger than at any other stage in the Bank's existence, including the South Sea Bubble and the aftermath of either World War.

You can read Andy Haldane's speech here

A wave of job losses won't help. More job losses here in aviation - 15,000 in total at Airbus, and nearly 2,000 of those in the UK - at a mixture of Broughton in Lancashire and Filton on the edge of Bristol, and, easyJet have also announced plans to shut bases, and cut staff at Stansted, Southend and Newcastle, with a mixture of pilots, cabin crew and other staff likely to lose their jobs.

Negative multiplier effects all round, and a precursor of further losses to come in the sector, one would suspect.

The Resolution Foundation has called for the 'biggest-ever peacetime job creation plan' to counter the effects of the coronavirus pandemic. It believes that without this sort of intervention there's a very real threat of mass unemployment.

William Keegan delights in this piece that we're all Keynesians now! It seems the Chancellor has no alternative but to turn on the taps!