Chancellor Rishi Sunak this week delivered his much-anticipated Spending Review, outlining how the government will tackle the huge economic challenges caused by the coronavirus pandemic.
Among the main points were: 
The government is spending £280bn on tackling Covid-19
But the Chancellor says: “The economic damage is likely to be lasting.”
Forecast for UK borrowing this year is £394bn – 19% of GDP – “the highest recorded level of borrowing in our peacetime history”, according to Sunak.
The Office for Budget Responsibility says the economy will be 11.3% smaller this year.
It is expected to grow by 5.5% next year, then 6.6%, then 2.3%, then 1.7% and then 1.8%.
But will still be 3% smaller by 2025.
Unemployment forecast to hit 2.6m (7.5%) next year
£2.9bn plan to help people unemployed for more than a year to find work
The national living wage will rise by 2.2% to £8.91 per hour, benefiting 2m people, says Sunak
Chancellor Investment in a greener future
Establishment of a new infrastructure bank located in the North
Launch of £4bn ‘levelling-up’ fund to invest in local areas such as new bypasses, upgraded railway stations, less traffic or more libraries, museums, and galleries.
