A Detailed Report on the Impact of COVID-19 on the UK Economy

This report critically analyzes the impact of the COVID-19 pandemic on the economy of the United Kingdom, focusing on its effects on employment, healthcare, and overall economic activities. It examines the challenges faced by UK citizens, the decline in the Gross Domestic Product, and the t...Read More

Basic Statistics and
ICT skills

Contents
INTRODUCTION...........................................................................................................................3
TASK A...........................................................................................................................................3
Impact of the pandemic on the economy of United Kingdom.....................................................3
Impact of the COVID-19 on the Health Care Sector...................................................................6
Impact of the COVID-19 on the Unemployment........................................................................6
TASK B...........................................................................................................................................8
Attached in Excel.........................................................................................................................8
TASK C...........................................................................................................................................9
Attached in PPT...........................................................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
During the COVID-19 pandemic, the various problems which the private, public and personnel
sector witnessed, adversely affected the economy of the words as a whole, where the individuals
paid the price, through a significant change in the workings of the country. In the given report,
the problems which were faced by the citizens of United Kingdom, are critically analysed
through the examination of the various statistics provided and henceforth the conditions of the
country can be better understood (Manara, 2020). The pandemic also made severely affected the
health industry and the unemployment factor, which are analysed in the given report.
Furthermore, all of the conditions which prevails the economy of the country, which the
government is keeping track of, through drafting various rules, regulations, policies and methods,
are also comprehended.
TASK A
Impact of the pandemic on the economy of United Kingdom
The economy of the United Kingdom, is managed critically and systematically, along with
the various techniques which are drafted by the legislation or the government (Moss, 2020). The
country has experienced crises and unfavourable conditions, due to the pandemic and as around
7.6 million individuals who are employed by different types of organizations or are professionals
who perform a salaried job, the effects of the pandemic has also been seen on them. Through
examination of the current situation, almost 24% of the individuals who are residents of United
Kingdom, have not been able to maintain the same standard of living which they had, post the
pandemic.

Furthermore, the individuals who belong to the underdeveloped countries or to the areas
in the United Kingdom, which do not have the right amount of facilities and infrastructure as the
rest of the country, are severely affected by the COVID-19 pandemic and henceforth requires the
government and other relevant authorities to help them cope up with the problems. During the
typical weekend of the lockdown, the economic activities which the nation was involved, could
be assessed by the Gross Domestic Product of the country, which actually defines the value of
the goods and services which are sold by the company (Mahase, 2021). Furthermore, the Gross
Domestic Product of the country has been experiencing a decline of roughly 30%, along with
that, the data which has been provided by the Office of the National Statistics of the United
Kingdom, nearly 20% of the businesses in the country have been temporarily closed or shut
down. The lockdown affected the businesses or organizations of the nation, through imposing the
various restrictions, such has providing only the vendors who sell necessities, the right to do so,
due to the fact that government had to impose various rules and regulations to control the
pandemic and its adverse effects.
Moreover, the trading businesses has also witnessed a significant downfall in the revenue
up to 60%, due to the fact that the sellers and consumers both became dormant at the time of
COVID-19. Approximately, 50% of the job seekers were affected by this condition and as a
result the overall economy of the country has also been seeing its adverse effects, through a
significant decrease in the hourly wage rate, that is $10 per hour (Glasziou, 2020). The jobs
being adversely impacted by the pandemic are therefore the reason behind the downfall of the

economy of United Kingdom. However, it must be noted that the policies, rules and regulations
which are drafted by the government are not necessarily beneficial to the various individuals or
organizations in the company, due to the fact that the methods may not be as per the needs and
wants of public, irrespective of the fact that the same are required to keep the pandemic under
control.
Impact of the COVID-19 on the Health Care Sector
The impact of pandemic on United Kingdom, has led the country, adversely, through the
management of various policies and techniques (Brysbaert, 2019). However, increment in the
COVID-19 cases, has led to the shortage of the medicines, hospital beds, oxygen cylinders,
medical equipment and the relevant items, which are required for the various patients.
Furthermore, due to the catastrophic situation which arose in the country, the population will not
be able to get the various facilities which are needed to sustain through the pandemic. With the
hospitals and other medical sources, being in an unfavourable situation, the health care sector is
not capable of providing the relevant services to the public.
Impact of the COVID-19 on the Unemployment
Employment process is extremely crucial for not only the country but also for the individuals,
due to the fact that the methods often create the flow in an individual’s life. Through the
provision of the relevant employment opportunities to the citizens, the country can also
favourably impact the overall national income (Adebowale, 2020). During the initial stages of

the COVID-19 pandemic, the quarantine policy which was applicable in the country led to
significant decrease in the employment rates and the unemployment problem increased
dramatically. The number of employed individuals reduced by 825000 during the January month
and number of unemployed individuals increased to 400000 from October till December, 2020.
TASK B
Attached in Excel
Stage 1

Stage 2

Stage 3
Stage 4

Exercise 1

Stage 1
Stage 2

TASK C
Attached in PPT

CONCLUSION
The following report lays down the various aspects about the COVID-19 pandemic, which
United Kingdom faced, through adverse impacts which influenced the economy of the nation. It
also examines and evaluates the conditions which the economy of the country faced during the
pandemic and as a result the overall workings of both the household along with the business
sector. Furthermore, the positive and negative aspects about the online learning process has also
been discussed, together with its impact on the overall economy of the nation. The effects of the
learning process, aids in understanding how the same can benefit the overall income of the
country.

REFERENCES
Books and Journals
Adebowale, V., Alderson, D., Burn, W., Dickson, J., Godlee, F., Goddard, A., Griffin, M.,
Henderson, K., Horton, R., Marshall, M. and Martin, J., 2020. Covid-19: Call for a rapid
forward looking review of the UK’s preparedness for a second wave—an open letter to
the leaders of all UK political parties. bmj, 369.
Brysbaert, M., 2019. Basic statistics for psychologists. Bloomsbury Publishing.
de Paula, B.H., Araújo, I., Bandeira, L., Barreto, N.M. and Doherty, G.J., 2020.
Recommendations from national regulatory agencies for ongoing cancer trials during
the COVID-19 pandemic. The Lancet Oncology, 21(5), pp.624-627.
Glasziou, P.P., Sanders, S. and Hoffmann, T., 2020. Waste in covid-19 research. Bmj, 369.
Junejo, M., Girometti, N., McOwan, A., Whitlock, G., Gedela, K., McCormack, S., Nugent, D.,
Patel, S., Suchak, T. and Tittle, V., 2020. HIV postexposure prophylaxis during
COVID-19. The lancet HIV, 7(7), p.e460.
Mahase, E., 2021. Covid-19: Sore throat, fatigue, and myalgia are more common with new UK
variant.\
Manara, A.R., Mumford, L., Callaghan, C.J., Ravanan, R. and Gardiner, D., 2020. Donation and
transplantation activity in the UK during the COVID-19 lockdown. The Lancet,
396(10249), pp.465-466.
Moss, P., Barlow, G., Easom, N., Lillie, P. and Samson, A., 2020. Lessons for managing high-
consequence infections from first COVID-19 cases in the UK. The Lancet, 395(10227),
p.e46.
Mutambudzi, M., Niedzwiedz, C.L., Macdonald, E.B., Leyland, A.H., Mair, F.S., Anderson, J.J.,
Celis-Morales, C.A., Cleland, J., Forbes, J., Gill, J.M. and Hastie, C., 2020. Occupation
and risk of COVID-19: prospective cohort study of 120,621 UK Biobank participants.
Schleicher, A., 2020. The Impact of COVID-19 on Education: Insights from" Education at a
Glance 2020". OECD Publishing.
Vaira, L.A., Salzano, G., Deiana, G. and De Riu, G., 2020. Anosmia and ageusia: common
findings in COVID‐19 patients. The Laryngoscope, 130(7), pp.1787-1787.
Wise, J., 2020. A third of covid-19 patients admitted to UK hospitals die.