Estimates of the cost of the Pandemic for the UK are coming in at £300bn. This figure could rise to £500bn.
The figures are not known at this stage but is going to be enormous.
Nigel Holland
Obtaining £300bn is not going to be easy. Even for the Government, which may need to borrow that much this year to keep on spending in the coronavirus-ravaged economy, it could present some serious challenges.
Figures obtained show the final bill to be breath taking.
Yet so far investors seem desperate to hand their cash to the Treasury. Will this continue?
Last month it borrowed a record amount in financial markets, selling bonds to investors who get their money back plus interest when the bond matures. If interest rises it will make the cost even more.
In May and June it expects to hoover up another £180bn. This is a pace of borrowing never seen before, as tax revenues slump and demands on the public purse soar.
The total amount will be enormous and others countries bills will be vast.