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Economic deficit can be proposed to be a situation in the cycle of the economic health where the expenses have enhanced value than the revenues, In these conditions, for the nations, the expenditures exceed the level of revenues of the nations, resulting in a net economic deficit (Li, 2020; Naeem, 2020a). There are various studies that have assessed the association between economic policy and certainty and the oil prices in the context of the United Kingdom, and it has been found out that there is negative impact of the oil prices on the economic policy uncertainty (Heald & Hodges, 2020; Heck et al., 2020). The situation of the pandemic of COVID-19 in the United Kingdom and all around the world has made different situations significantly uncertain, like the situation of the health sector, the situation of the political policymaking procedure, and the situation of the economic policymaking procedure has become significantly uncertain, and uncertain situations result in unfavorable results more often as well (Heald & Hodges, 2020; Heck et al., 2020). Most of the researchers have been conducting research on the long term impacts of the COVID-19 pandemic, just to find out that the shocks of the pandemic are going to last long and are going to result in devastation of the economic stability and systems (Jeris & Nath, 2020). In this highly uncertain situation, where the restrictions are being applied with uncertainty, the number of cases, the spread of the virus, the total number of deaths and the end of this pandemic situation is completely uncertain, the highly uncertain economic condition is going to lead towards economic deficit for most of the countries (Bryce et al., 2020; Clarkson et al., 2020; Davidescu et al., 2021). Some of the researchers have also proposed that the pandemic is going to last for long and then result in global financial crisis, also pointing towards a significant net economic deficit for most of the significantly developed countries, including the United Kingdom as well (Davidescu et al., 2021). According to another study, there is a significant role of the shareholders in any company and business, involving the government, suppliers, customers, regulators, employees, creditors and competitors, the study proposes that the pandemic of COVID-19 is resulting in significant impact on the economic condition of the United Kingdom that in return impacts all of these shareholders as well (Heald & Hodges, 2020). This is leading the organizations and business towards significant losses, resulting in overall economic loss as well that can lead the country towards net economic deficit. Not only will this impact the economic condition of the country but will also impact the employment rate, the prosperity in the country, the human development index and the political conditions as well (Koffman et al., 2020; Li, 2020). The other ways in which the total cases and deaths due to the pandemic of COVID-19 are impacting the economic condition of the United Kingdom include significant and temporary decline in the domestic consumption and significantly impacted outbreak economies. These activities also impact the economy as these have significant impact on the future business activities, involving investment, supply and demand as well, so the sectors will be impacted in the terms of production and business activities as well (Koffman et al., 2020; Li, 2020). However, there is yet a requirement of significant research by specifically considering the factors like COVID-19 total cases, COVID-19 monthly cases and total deaths due to COVID-19 along with the factor of net economic deficit specifically in the context of the United Kingdom (Naeem, 2020a). According to the reviewed literature, the views of the authors and the previous researches, the following statements are proposed, establishing a relationship among the most crucial elements.
H4: The impact of COVID-19 total cases on the Net economic deficit in the United Kingdom is significant.
H5: The impact of COVID-19 Monthly cases on the Net economic deficit in the United Kingdom is significant.
H6: The impact of Total deaths due to COVID-19 on the Net economic deficit in the United Kingdom is significant.
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