David Cameron: Too early to consider fixing the UK’s budget deficit September 17, 2020 David Cameron has said the UK economy will need “generous help to reopen” and that Rishi Sunak should not consider measures to fix the budget deficit until an economic recovery is well under way. The former prime minister told Times Radio that “we’re going to have to think about fixing the roof again when the [...]
Travelling to work hits highest level since Covid began September 17, 2020 The proportion of people travelling to work hit its highest level since the coronavirus lockdown began last week as Britons’ gradual return to offices and workplaces continued. The Office for National Statistics (ONS) said 62 per cent of people travelled to work in the week that ended on 13 September. It was the first time [...]
Trump urges Republicans to go ‘much higher’ on stimulus September 17, 2020 US President Donald Trump has encouraged Republicans on Capitol Hill to come up with a more generous stimulus offer, as the White House tries to break the deadlock over the next package. Trump tweeted yesterday evening: “Go for the much higher numbers, Republicans, it all comes back to the USA anyway (one way or another!)” [...]
Federal Reserve holds rates steady in upbeat US economic forecast September 16, 2020 The US Federal Reserve opted to keep interest rates near zero today, but improved its projections for the US economy while it waits for inflation to improve. The Fed promised to hold interest rates until inflation gets on track to “moderately exceed” its two per cent inflation target “for some time”. Fresh forecasts showed it [...]
Boris Johnson signals that targeted furlough extension is on the cards September 16, 2020 Boris Johnson has given the clearest indication yet that the government is considering extending the furlough scheme for some sectors beyond next month. When asked about an extension of the scheme for sectors unable to function due to coronavirus restrictions, the Prime Minister said today that that the government “will continue to show great creativity [...]
Will the BoE inject more stimulus into the UK economy? September 16, 2020 The Bank of England is preparing to announce its latest interest rate decision tomorrow, as it closely monitors the UK economy’s rebound from the record 20.4 per cent contraction in the second quarter. Since then, there have been many positive signs. The economy grew by a huge 8.7 per cent in June and another 6.6 [...]
OECD: Global economy faring better than thought but UK lags behind September 16, 2020 The UK economy will fare better than originally expected this year, the OECD has predicted, although it will still suffer one of the biggest hits from the coronavirus pandemic in the world. The global economic organisation also said the world economy would weather the coronavirus pandemic better than initially thought. It predicted global GDP would [...]
Official figures confirm jump in UK house prices September 16, 2020 UK house prices jumped in June after the property market reopened and a wave of pent-up demand was released, the government’s Land Registry has confirmed. Average house prices in the UK rose by 3.4 per cent in the year to June 2020, official figures showed. That was up from the 1.1 per cent increase in [...]
UK inflation falls to five year low due to Eat Out to Help Out September 16, 2020 UK inflation slipped to a five-year low in August as the Eat Out to Help Out scheme dragged down prices in the restaurant sector for the first time on record. The price of goods and services in the UK rose by 0.2 per cent in August compared to a year earlier, the Office for National [...]
British Business Bank increases funding over a fifth to £8bn September 16, 2020 The UK’s economic development bank has today reported that it supported over 98,000 businesses with around £8bn in financing in the last financial year. The British Business Bank (BBB), which has come to increased prominence in the last six months due to its role in helping UK firms impacted by the coronavirus pandemic, said in [...]