Even if we can re-open retail - which I would very much like to be able to do on June 1 - there will still be restrictions on how people can shop, which will have an impact likely on how much they spend.
Referring to relatively weak levels of growth in Europe as lockdown measures were gradually lifted elsewhere, he added: "In all cases it will take a little bit of time for things to get back to normal, even once we've reopened now closed sectors".
In more evidence of the problems, official figures earlier showed unemployment claims rose by more than 800,000 last month. "So I think, in all cases, it will take a little bit of time for things to get back to normal, even once we've re-opened now closed sectors", he said.
"The longer the depth of the recession, I think everyone would agree - all economic forecasters and economists would agree - it is likely the degree of that scarring will be greater", he said.
The Office for National Statistics says 2.1 million people claimed benefits last month, up by more than 856,000.
More than eight million jobs have been furloughed so far and 1.1 million people have accessed help under the Self-Employment Income Support Scheme. The Office of Budget Responsibility has previously suggested unemployment could reach "double digits" in the wake of the pandemic.
The UK labour market entered the Covid-19 crisis in rude health, with unemployment rate of 3.9 per cent - the lowest it has been since 19764.
"Of course that will have an impact on employment".
United Kingdom says dealing with technical issues of track and trace app - minister
But he said the tests would significantly boost understanding of the spread of the virus and the risks it poses in Britain. Brokenshire also said restrictions on arrivals in Britain from overseas would be introduced early next month.
Britain faces "a severe recession the likes of which we haven't seen" as the coronavirus and the lockdown ravage the economy, Rishi Sunak has warned.
Speaking at the daily Downing Street press conference in mid-April, he said "we can recover quickly and strongly and get our lives back to normal".
On social distancing, Sir Iain said "we're the only country certainly in Europe that I know of" that uses the two-metre rule.
He told the Lords committee: "I thought about a sectoral approach and in practice it would be very hard to implement".
"So we do need to look at how they manage that process and give them some flexibility".
The Chancellor highlighted the threat of "scarring" as he said it would "take time" for people to get "back to normal" even after the lockdown ends.
The Treasury revealed yesterday that more than £11.1bn had been claimed so far through the coronavirus job retention initiative.
"This figure is going to get worse before it gets better".
Recommended News
-
22 May 2020Coronavirus: UK Covid-19 toll over 41,000, with 10,000 care homes deaths
She added: "Social care has not had the same priority as the NHS and these services have not been treated as inexplicably linked". Such a high United Kingdom death toll increases the pressure on Johnson, who says the government is following scientific advice.
22 May 2020Scientists in China believe new drug can stop pandemic 'without vaccine'
Sunney Xie said that they injected the drug into the mice and the viral load was reduced by a factor of 2500 after five days. A Chinese laboratory at Peking University believes it has found a drug with the power to bring COVID-19 to an end.
22 May 2020AstraZeneca plans to ship Oxford Covid-19 vaccine in September
The Moderna vaccine is based on directly injecting genetic material, RNA, which then kicks the human immune system into action. The investment will accelerate the development and production of the vaccine, AstraZeneca Chief Executive Pascal Soriot said. -
22 May 2020Rana Daggubati and Miheeka Bajaj have a roka ceremony
It's official now! Telugu star Rana Daggubati got engaged to girlfriend Miheeka Bajaj in an intimate ceremony on Thursday morning. According to reports, Miheeka, a native of Hyderabad, got into design and decor because of her love for Indian architecture.
22 May 2020Carbon emissions drop to 2006 levels because of the pandemic
Camera IconProtesters with placards participate in The Global Strike 4 Climate rally in Sydney past year . While transport, industry and public building emissions trended lower, home emissions were on the rise.
22 May 2020Children In Colorado Identified With Suspected Coronavirus-Linked Disease
The disease called multisystem inflammatory syndrome has been identified in NY and elsewhere in the country. Children's Hospital Colorado is one of the leading research institutions for MIS-C in the entire country. -
22 May 2020Shooting reported in Arizona’s Westgate Entertainment District, suspect in custody
An eyewitness has described "hiding in the back of our studio with a coworker" as the incident unfolded outside the window. Glendale Police then confirmed a suspect was in custody and warned people to keep away from the area.
22 May 2020Nick Cordero's Wife Tearfully Shares Devastating Update On His Condition
But his health got worse on Wednesday, she said, asking fans for their prayers during an Instagram Live stream. It's not how his story ends, so just keep us in your thoughts and prayers today.
22 May 2020National Football League conditionally reinstates Aldon Smith
Smith will earn a $910,000 base salary and $40,625 every time he is on the active game-day roster, totaling $650,000. Tomsula was one of the first additions to McCarthy's staff after Mike Nolan was named Dallas' defensive coordinator. -
22 May 2020Tiger Woods: What's in the bag for coronavirus relief match
If you weren't already excited for this golf match, the video that Brady posted to his Instagram page Tuesday should do the trick. The build up to "The Match" has been phenomenal.
22 May 2020Xfinity Series' return again delayed by rain at Darlington
Elliott went spinning across the track and made hard contact into the pit wall, ending his race with under 30 laps to go. The rest of the field will start the Toyota 500 in the same order they finished in Sunday's race. "They're mad.
22 May 2020More than 51K file for unemployment in Maryland
Economists polled by Reuters had forecast claims would total 2.4 million in the latest week. The economy lost a record 20.5 million jobs in April, on top of the 881,000 shed in March.
