The International Monetary Fund urges the UK government to slow the pace of its budget cuts in 2013 if economic growth does not recover.
Chancellor of the Exchequer Rishi Sunak delivers the 2021 Spring budget to the House of Commons, announcing the government's tax and spending plans for the year ahead, as well as further COVID-19 support measures, including extending the furlough until the end of September and increasing the minimum wage beginning in April.
The Office for National Statistics says that the economy of the United Kingdom has contracted by a record 9.9% since the pandemic began, but has narrowly avoided a double-dip recession. This is nonetheless estimated to be the largest annual contraction since 1709.
Secretary of State for Transport Grant Shapps announces that the UK government is planning to introduce new legislation in the aftermath of Thomas Cook's collapse in order to allow "more orderly" bankruptcies by travel agencies and airlines.
British Steel Limited goes into compulsory liquidation after rescue talks between the British government and the company's owners, Greybull Capital, fail. Around 5,000 workers are employed by the company, 3,800 of whom are based in the UK.
A meeting of the leaders of the parties comprising the Greek Government breaks up without agreeing to cuts prescribed by the European Union, the European Central Bank and the International Monetary Fund.