The economy in 2021 continued to be dominated by the impacts of Covid-19 along with, towards the end of the year, the re-emergence of inflation as a serious threat to the cost of living.
Covid-19 caused significant economic damage in 2020, both through imposed public health measures (including lockdowns), and through individual changes in behaviour, leading to the biggest reduction in UK GDP in history. The end of 2020 heralded a new hope, with the development of vaccines from Astra-Zeneca, Pfizer, Moderna and others as a potential route to protect lives and health, and allow the economy to fully reopen.
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