There has been much debate/controversy over a paper published recently suggesting that perhaps half of the UK population has already been infected with Covid-19. The popular press here went mad over it; you can get a reasonably good overview from an opinion piece in The Guardian from March 26: https://www.theguardian.com/commentisfree/2020/mar/26/virus-...

Again, until this sort of huge unknown is properly addressed, I would be reticent to speculate on outlook.