Coronavirus: 'UK already in recession' - Sunak

The UK's Chancellor of the Exchequer, Rishi Sunak, has admitted that the UK is "very likely" in the middle of a significant recession, as a result of the coronavirus pandemic.

Figures show that the economy shrank by 2% in the first quarter of the year - the sharpest contraction in more than a decade - with the figure only including one full week of covid-19 lockdown at the end of March.

Mr Sunak also said it was too early to speculate about how long it might take the economy to recover.