John Fahey: Failure to stop Delta risks more challenges for UK economy

The Delta variant delayed the full re-opening of the economy by a number of weeks, and failure to stop it spreading risks further challenges, while Brexit could also dampen investment and trade over the medium term.

Full reopening could, ultimately, hamper the UK's economic growth.

Similar to elsewhere, the dominant factor impacting the UK economy has been the Covid-19 pandemic.

Indeed, last year, the fall in UK GDP of nearly 10% was bigger than the other main advanced economies.