Covid-19 update: A £516 billion deficit?

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News and analysis

• A leaked Treasury report warns the UK could face a 1970s-style ‘sovereign debt crisis’ unless the Chancellor introduces new taxes, freezes public sector wages and ends the pensions triple lock. Details below.
• The UK economy contracted by 2% in Q1, the biggest drop since the financial crash.
• Self-employed workers can now apply for an income support grant of up to £7,500.
• Covid-19 hospital admissions are falling more slowly in the north of England than the rest of the country.
• The true number of care home deaths could be as high as 22,000, double the official figure, according to research from the LSE.
• The National Education Union has told teachers not to ‘engage’ with the government’s plans to reopen schools. The warning came after concerns over the government’s PPE advice to staff.
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