The economic effects of the Coronavirus
"We have never in peacetime faced an economic fight like this one" - Rishi Sunak, Chancellor of the exchequer.
The Coronavirus has already caused quite a lot of economic turmoil, with one of the steepest stock market declines since the 2008 financial crisis.
Economic uncertainty tends to lead to both businesses and consumers playing it safe. Preparing for the worst, the public will be expected to save money for the case of illness or redundancy. Similarly, businesses affected by this reduced demand and productivity may have to make redundancies in order to survive financially.
During this time, becoming ill or redundant can jeopardise your ability to keep up with mortgage repayments. Fortunately, the government is making a strong effort to help those affected.