The @OBR_UK website has crashed as it unfolded the #OBRcovidscenario - not surprising given the interest. But before it did, I did see that the modelled scenario predicted a budget deficit due to #Covid19 at about 13% of GDP. Staggering - more than 2008-09 and closer to WW2.

This thread from @ChrisGiles_ has managed to download the data and gives a historical perspective: https://twitter.com/chrisgiles_/status/1250017939341946881?s=21 https://twitter.com/chrisgiles_/status/1250017939341946881

In fact it’s 14% and although smaller than WW2 - it does assume no permanent scarring of the economy, which assumes a relatively rapid recovery...