Gross underspending despite stimulus measures in place renders debates on the size of the package moot as the government still appears unable to roll out projects with urgency. This may prolong the economic crisis, an analyst says.

The coronavirus pandemic has brought the aviation industry to its knees, costing airlines $510 billion in lost sales. Airlines have already cut tens of thousands of jobs, with many more positions that rely on the sector at risk.

Bank of England Governor Andrew Bailey has warned that failing to secure a new trade deal with the European Union would do more damage to the UK economy over the long run than the coronavirus pandemic.