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Mr Sunak has warned that unemployment could rise to 2.6m by the middle of next year. Meanwhile, the Resolution Foundation think-tank has warned that the Covid-crisis could dent average pay packets by £1,200.
"The Covid crisis is causing immense damage to the public finances, and permanent damage to family finances too, with pay packets on track to be £1,200 a year lower than pre-pandemic expectations," warned Torsten Bell, chief executive of the Resolution Foundation.
Covid-19: Hong Kong-Singapore travel corridor postponed