After the devastating coronavirus pandemic, the British Economy has faced its biggest decline since the early eighteenth century.

The UK economy shrank by 9.9% last year which was twice the number for 2009's global financial crisis.

The last time the British Economy faced a more severe crackdown than this was in 1709 when the Great Frost had devastated the largely agricultural economy.

The rebound in the growth has been hit on the knee by the third series of lockdown. The British Economy remains shackled.

"Today's figures show that the economy has experienced a serious shock as a result of the pandemic, which has been felt by countries around the world," the U.K.'s top treasury official, Chancellor Rishi Sunak, said in a statement. "While there are some positive signs of the economy's resilience over the winter, we know that the current lockdown continues to have a significant impact on many people and businesses."

COVID-19 has hit the British economy harder than most of the other industrialized countries.

The UK hopes to relax the most restriction as soon as possible to tackle the economic depreciation. However, increasing COVID cases might make the scenario look far fetched.