Swine flu is less likely to have an impact on Britain’s productivity and more likely to affect the country’s spending, one expert has suggested.
Michael Baxter, an economist at financial services company Defaqto, stated those in debt may be able to pay off money owed if they came down with the virus.
He said people that contract the illness are “by default” spending less money, which will enable them to put aside more money and “pay of debt a bit quicker”.
The nation’s productivity might not be influenced as strongly, Mr Baxter added, with many people who have taken time off being required to catch up on the back log of work they missed while sick.
His comments come after the Ernst & Young ITEM Club summer forecast predicted gross domestic product in the UK to decline by up to 3 per cent more if the worst-case scenarios of H1N1 virus occur.
By Francis Finch