Economic impact of the COVID19 and the economic response of the government and central bank

Economic impact of the COVID-
19 and the economic response of
the government and central bank

EXECUTIVE SUMMARY
The report summarises impacts that COVID-19 and Brexit have on economy of a nation.
British economy contracted by 1.5% and relatively modest contraction shows that the nations
was in midst of strict lockdown that impacts working of businesses, people and industries. The
report highlights economic impacts of COVID-19 and likely impacts of Brexit in present as well
as future era. Moreover, it assesses economic responses undertaken by government and Bank of
England to deal with the situations.

Contents
EXECUTIVE SUMMARY.............................................................................................................2
Contents...........................................................................................................................................3
INTRODUCTION...........................................................................................................................1
DISCUSSION AND ANALYSIS...................................................................................................1
1. Impact of COVID-19 on economy of United Kingdom..........................................................1
2. Major economic responses of Government of UK and their implications..............................3
3. Major responses undertaken by Bank of England and implication of them on economy of
UK................................................................................................................................................5
4. Likely impacts of Brexit on economy of UK..........................................................................7
CONCLUSION................................................................................................................................8
RECOMMENDATIONS.................................................................................................................8
REFERENCES..............................................................................................................................10