I feel the report about UK economy losing 700 billion is wrong!!!

[Gyfts]

Nope, the report is accurate. When the UK locks down businesses and raises the unemployment rate, the only predictable outcome is an economic recession. The vaccine is being administered, that doesn't change the fact that commerce was basically completely halted, people left their jobs, and government began printing money. There will be ramifications (good for bitcoin, but unironically)

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[AndySt]

I understand that 700 billion could be wrong, or it could be right, after all economists know about this stuff than you and me and just because you "think" they are wrong doesn't make you right, it makes you someone with no education on this field (if you do go write a counter article about it and put that forward) going against people who spent decades becoming professionals at the job, its like saying I think Lebron will miss a shot I can make, makes no sense.
However even if we take your reasoning at hand it shows why you are wrong, you say it will be "better" because of vaccination which I am sure it will be better than right now, but that doesn't change the fact that so many people lost so much money already so going back into business will not be easy, people do not have money they used to have to help business' make a profit.

Let's not forget that there are a large number of such economists and professionals, and different groups or individuals make different forecasts with the same different figures, and it is up to you to trust their forecasts or not to the best of your competence Here it is necessary to talk about a favorable and not very favorable scenario of the development of events, and I think 700 billion just from the area of the unfavorable scenario. In any case, lockdowns and border closures can not pass without a trace for the economy and no vaccination will be able to return lost profits and return losses to the agents of the economic process.

[Kong Hey Pakboy]

I think the reason for that it feels wrong is that they are inflating the losses so they can go for more taxes that will help them recover the inflated numbers, not to mention that with the inflation of numbers, they can slip in more money in their pockets since there isn't a lot of losses in the first place.

[paxmao]

Well, the Guardian will usually put the accent on the most pessimistic of the options when a Conservative is leading the country. Anyway, there is a price to pay for breaking up with the EU and then having a COVID crisis.

Do not get me wrong, I am not saying that Brexit is bad in the long term, but I am saying that there is a price to pay in the short term and that the advantages, if any for the general public, are yet to be proven. The UK has taken a risk that could eventually end up with a loss like the one described in your post.

[Lucius]

The key reason for my analysis is that UK has vaccinated over 60% of it’s population, and this means that soon it’ll be business as usual for them, and hence their economy will be able to bounce back faster and stronger than what the economists had initially predicted.

News has surfaced these days of how Seychelles (the nation with the most vaccinated people with two doses) is facing a new wave of infection, of which as many as 37% have received two doses of the vaccine. It should be noted that this is a vaccine from a Chinese manufacturer (Sinopharm) and the rest from Covishield (Indian version of AstraZaneca). If it’s not just about the type of vaccine, then it’s possible for this to happen again anywhere in the world.

Seychelles, which has vaccinated a higher proportion of its population against COVID-19 than any other country, is facing a fresh surge of infections. The island nation has closed schools and cancelled sporting activities for two weeks as the number of active coronavirus cases has more than doubled since last week. Since last week, the number of active coronavirus cases has more than doubled to 2,486 people. Of these, 37 percent of the population have received both the vaccine doses, as per the report.

[stompix]

If it’s not just about the type of vaccine, then it’s possible for this to happen again anywhere in the world.

Most likely that's the cause:
Top Chinese official admits vaccines have low effectiveness

They've rushed that vaccine as a form of propaganda to smaller and poorer countries and this is going to backfire.
Chile was sending alarm calls for a while, in extreme cases with that efficiency you could basically halve the numbers of vaccinated people, Seychelles might have 60% but if the vaccine worked for only half of them it means they are just like the average EU country at this point, but with a dangerous variant, an influx of tourist and no restrictions that all combined have fueled the spread.
And there is also one more aspect I couldn't find simple google searches, who percentage of the new cases are locals and how many of those infected are tourists?

I wonder how effective Sputnik is, Hungary is the global leader percentage of deaths to population, doing two times worse than neighboring Romania who uses Pfizer.

Anyhow, probably we'll find out sooner than expected, the new Indian variant is already in the Uk from the start of the month, let's see how this will turn out.
Oh, and one more thing, probably the number of infections will not be that important as the number of deaths from it.

[wxa7115]

That is why we should not trust the common news. Big media tends to create FUD, chaos and misleading with propagandas. England is one of the best countries in Europe with high percent of being vaccinated. The economy will bounce back and together with the US, they will overtake the China and stop them from trying to assimilate the global finance

Is there going to be a recovery? Yes of course and that is true for almost any country around the world but it is difficult to see how are they going to stop China from achieving a position of global dominance over the economy when the dollar is being printed at a rate that years ago it could have seemed impossible.

Now I understand that China is in no position to impose their currency either as they manipulate that aspect of their economy as well, but the dollar used to have the confidence of the people and now that confidence is evaporating as we speak as more and more money is pumped into the system, and without a strong dollar the US cannot remain above China in economic terms.

[Obito]

Nope, the report is accurate. When the UK locks down businesses and raises the unemployment rate, the only predictable outcome is an economic recession. The vaccine is being administered, that doesn't change the fact that commerce was basically completely halted, people left their jobs, and government began printing money. There will be ramifications (good for bitcoin, but unironically)

Well, I think that it is accurate too since they have the instruments to measure how much losses there is and OP thinking that there's something wrong with the report doesn't have any proof that it is wrong because OP doesn't have any means to prove it. The vaccine rollout will significantly help with the economic losses because it will return the workforce.

[Xinarae*]

The corona virus has damaged the economies of the many countries round the world but i do not think the united kingdom economy has lost 700 billion dollars. The us has recovered its economy much faster than other countries the speed of inflation is now more important than ever because the economy remains uncertain but it all depends on what measures are taken to stop the spread of the coronavirus and infection much depends on the business the financial market and therefore the family situation. Inflation is rising within the us if the present inflation doesn't decrease the economy will rise rapidly inflation are going to be allowed to rise further to offset the loss of covid.