Some economists think the UK is operating at around one third of its pre-crisis levels of activity.
That’s because almost every part of the economy – outside food and drink and the public sector – has been affected.
Government spending is 40% -ish of the economy. We measure government contribution to GDP by what we spend on government – obviously, given the unflattering result of measuring it by output.
40% is more than a third.
More seriously, down by a third I’d accept as a good backoffagpacketestimation. Only a third, naaaah.