UK economy set to grow at fastest rate for 70 years but ‘elements of tightening coming through’, says Bank of England governor

The UK is expected to enjoy its strongest economic growth for more than 70 years, as the country begins opening up again after the Covid restrictions.

The Bank of England says the economy is likely to grow by 7.25 per cent, although that’s after a sharp decline last year as the pandemic sent it tumbling at the biggest rate for 300 years.

The Bank’s Governor Andrew Bailey has compared the bounce back to the Industrial revolution.