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New Pingdemic from Covid Omicron variant ‘will knock out economy £2bn’

A NEW pingdemic arising from the latest Covid variant will knock at least £2 billion out of the economy, a think tank claims.

The Institute of Economic Affairs believes that the measures may be over economic hammer.

A new pingdemic pandemic arising from the latest Covid variant will knock at least £2 billion out of the economy, a think tank claims

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A new pingdemic pandemic arising from the latest Covid variant will knock at least £2 billion out of the economy, a think tank claimsCredit: Getty
FTSE 100 drops after news that Omnicron variant has been discovered
FTSE 100 drops after news that Omnicron variant has been discovered

“The main short-term risk to the economy comes from tightening,” said spokesman Julian Jessop self-isolation rule, could trigger another pandemic.

“This will disrupt schools and businesses during the critical period beforeChristmas Period.”

Labor shortage will increase impact compared to July pingdemic – cost £2 billion, he added.

Yesterday, business leaders also warned ministers that new tensions could dampen consumer confidence in the run-up to Christmas and called for clarification of further measures if case increase.

However, the economy will recover quickly if this variant turns out to be more dovish than initially feared, Mr. Jessop predicted.

Those hopes sparked a protest in Index FTSE100 of the top companies yesterday.

It regained nearly one percent of Friday’s 3.6 percent drop when the news broke.

🔵 Read ours Omicron variant live blog for the latest news

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https://www.thesun.co.uk/money/16889713/pingdemic-covid-omicron-economy/ New Pingdemic from Covid Omicron variant ‘will knock out economy £2bn’

Bobby Allyn

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