John Redwood predicts economic ‘bounce back’ as UK can go ‘further faster’

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Tory MP John Redwood spoke to the Express and reflected on the economic difficulties facing the country. Speaking to the Express, Mr Redwood insisted the UK could expect an economic bounce back. He noted that the faster Boris Johnson relaxes coronavirus restrictions, the quicker the economic bounce back.

He also praised the financial aid that was put in place to better protect jobs as the nation dealt with the coronavirus crisis.

Mr Redwood said: “I think there is going to be a good bounce back in the economy.

“That is was the official forecasts say, I think in that respect they are right.

“The pace of the recovery will remain mainly determined by the rate of relaxation.

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The sooner we relax the faster the recovery the quicker the reduction in state borrowing.”

“If they can go even further faster you will get an even better recovery this year.

“If not, more of the recovery will be next year as the forecasts currently say.

“I am pleased that the chancellor took the opportunity to extend and top up some of the assistance schemes.

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“He was given the timetable showing that part of 2021-22 financial year will still have businesses closed with social distancing having quite a big negative impact on a whole range of businesses.

“People do need more help.”

Mr Redwood also praised Rishi Sunak and the economic support he provided for many Britons.

He said: “I think the furlough scheme has genuinely been well received and has protected people in jobs that otherwise would have been lost.

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“Those that do have the self-employed help, small businesses have certainly benefited.

“There have been arguments over whether it should have been more extensive and we are still discussing that.”

Due to the current Indian variant plaguing the UK, the opening up of the country on June 21 has been brought into question.

Both Health Secretary and Boris Johnson have insisted the Government will continue to do all that it can to ensure the coronavirus-roadmap plan goes ahead uninterrupted. 

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