Shakespeare: Admiral’s car insurance refund will be remembered April 29, 2020 The coronavirus lockdown has now confined Britons to their homes for five weeks, apart from essential journeys. In recognition of everybody driving less, and the subsequent profit made from reduced insurance claims, Admiral has offered £110 million back to their car and van customers as part of a ‘Stay at Home Refund’. A £25 refund [...]
Coronavirus: Will rescue package make tax hikes inevitable? April 29, 2020 In the past six weeks the Chancellor has, quite rightly, announced a far-reaching package of measures to support the economy through the Covid-19 crisis that could cost up to £100bn. He may yet need to do more. Tax revenues will also be much lower than expected due to the hit to economic activity from the [...]
Coronavirus: Fake news that an elderly lockdown is remainer revenge could spread April 29, 2020 The attention of policy makers has been focused on the science of how viruses either spread or are contained in social networks. Just as crucial in the current circumstances is the spread of beliefs and behaviour. Will people continue to observe social distancing once the lockdown is eased, or will they revert to pre-lockdown patterns [...]
Remote working: How to keep your team happy in lockdown April 28, 2020 The concept of trust in the workplace has been a topical issue for a few years. The tendency to quickly distrust information has continued to grow against the rise of fake news, making it increasingly difficult for some businesses to develop trust with their employees. Establishing workplace trust has arguably become even more challenging in [...]
There is a difference between helicopter money and quantitative easing April 28, 2020 Many investors have it wrong. This round of central bank alchemy starring Jay Powell is not Ben Bernanke the Redux… Yes, on both occasions central bankers rode in on their white horses and saved the day by slashing rates, buying fixed income securities, flattening volatility and offering bazooka style forward guidance, and for that they deserve [...]
There is hope amidst the despair in hospitality if pragmatism wins out April 28, 2020 One is forgiven for being a little bleak about the prospects of the hospitality industry at the moment. There is a general view amongst restaurant operators that the rest of 2020 will essentially be a write off in terms of trading. Reopening of food and beverage (F&B) businesses this year will be slow, gradual and [...]
Coronavirus: Do governments have any economic bullets left? April 28, 2020 From Beijing to London to New York, the trajectory of confirmed COVID-19 cases and its subsequent impact on economic growth has set off alarm bells across the world. China, which has contributed tremendously to global growth over recent decades, has seen its economy contract for the first time in more than 40 years, while Europe [...]
Small businesses are the heart of the nation – and they need real support April 28, 2020 Dialogue is key during a crisis; it helps us to make the right decision by understanding the problems and challenges we face. That’s why I have been speaking to our customers every day, businesses like Danish Camp, a riverside visitor centre based in Bedford and Wheely Tots a local charity in North London. These conversations [...]
Recovery plans must prioritise small businesses April 28, 2020 If the UK economy is to get back on its feet as soon as possible following the extreme lockdown, there needs to be a small business-first exit strategy. While it is right that decision is led by public health concerns, for the sake of our hugely important small business population, we need to understand the [...]
Coronavirus: The Government knows employers must keep one eye on tomorrow April 27, 2020 During this time of huge uncertainty, financial security is at the forefront of many people’s minds. For those running businesses, the focus is understandably on the here and now, ensuring there’s sufficient cash flow and resources to navigate this enormously challenging period. But employers are also well aware they have to have one eye on [...]