LONDON (Reuters) – Britain is likely to suffer some long-term economic scarring due to the COVID pandemic, but it is hard to know its scale for now, Bank of England policymaker Jonathan Haskel said on Tuesday.
“Changes in the economy, even if the vaccine comes, will have these long-term scarring effects,” Haskel said at an online conference hosted by Britain’s Imperial College.
Haskel said recent news of coronavirus vaccine developments did offer some light at the end of the tunnel for Britain, which has suffered both a high death toll and heavy economic damage from the pandemic.
Reporting by David Milliken; editing by Stephen Addison