UK's poor testing could slow emergence from lockdown, Deutsche Bank says
LONDON - The United Kingdom’s economy is crumbling under the strain of the coronavirus lockdown and government borrowing is soaring to the highest levels in peacetime history, increasing pressure on the government to set out an exit strategy.
Ministers are already struggling to explain high death rates, limited testing and shortages of protective kit, and the grim reality of the damage to the world’s fifth largest economy hit home on Thursday. The United Kingdom will issue 180 billion pounds of government debt between May and July, more than it had previously planned for the entire financial year.
“This will materially impact the government’s ability to pursue a ‘test and trace’ approach when it comes to easing the lockdown.”Health Secretary Matt Hancock has promised to get 100,000 people per day tested by the end of April, though just 22,814 tests were carried out on April 21 - the latest day for which data is publicly available.
The lack of testing is not good enough, Northern Ireland Secretary Brandon Lewis said, although he added the authorities had done well to raise it to current levels. “The UK will be one of the laggards when it comes to either a lifting of the existing lockdown, or public buy-in when restrictions are eased,” Deutsche Bank’s Harvey said.
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