UK must beef up coronavirus economic response, says think tank April 16, 2020 The UK government must take “further radical policy steps” to tackle the economic fallout from coronavirus, a think tank has said, amid huge uncertainty over the length of the outbreak. The Resolution Foundation praised the government’s response so far, which includes £330bn of lending and a scheme to pay furloughed workers’ wages. Yet it said [...]
First of UK ventilators wins approval as private sector ramps up production April 16, 2020 Regulatory approval has been granted for thousands of new ventilators through the government’s private sector call to arms. Penlon’s Prima ES02 model is the first to be green lit by the Medicines and Healthcare products Regulatory Agency (MHRA), as a part of the “Ventilator Challenge”, a month after the rallying cry was issued. The government has [...]
IMF: UK must extend Brexit trade deal deadline during coronavirus April 16, 2020 The UK must move to extend its Brexit trade deal deadline while the global economy faces coronavirus uncertainty, according to the head of the International Monetary Fund (IMF). UK chief negotiator David Frost and his EU counterpart Michel Barnier confirmed yesterday that trade talks will re-commence next week, without any extension to the 31 December [...]
UK coronavirus lockdown set to be extended until early May April 16, 2020 The UK coronavirus lockdown is set to be extended today until early May, according to multiple media reports. The UK government is expected to announce a three-week extension to the coronavirus lockdown later today. Health minister Matt Hancock told the BBC this morning that the virus would “run rampant” if lockdown measures were lifted now. [...]
Bank lobby chief says changes to coronavirus loan scheme may be necessary April 15, 2020 The head of Britain’s banking lobby group has said the government’s coronavirus business loan scheme may need to change in order to increase lending to smaller businesses. UK Finance chief executive Stephen Jones told the Treasury Select Committee today that the government may need to guarantee 100 per cent of loans for small businesses, instead [...]
UK ‘probably’ at coronavirus peak, says chief medical officer April 15, 2020 The UK is likely now in the peak of its coronavirus outbreak, according to the government’s most senior health adviser. Chief Medical Officer Chris Whitty said at today’s daily press briefing that the UK was “probably reaching the peak overall” of the country’s outbreak and “that’s what the flattening” of the increase in new cases [...]
Brexit trade talks set to resume next week with no deadline extension April 15, 2020 The UK’s chief Brexit negotiator David Frost and his Brussels counterpart will meet for their next round of official trade talks next week. Frost and chief EU negotiator Michel Barnier will hold week-long negotiating rounds via video conference on the weeks commencing 20 April, 11 May and 1 June. The pair met today to outline [...]
Coronavirus furlough scheme extended to allow for more wage subsidies April 15, 2020 The government’s coronavirus furlough scheme has been extended to ensure thousands of more employees are eligible for wage subsidies. The Treasury announced today that the eligibility date has been extended to 19 March from 28 February. The Job Retention Scheme sees the government pay out 80 per cent of wages, up to £2,500 a month, [...]
Scottish government does U-turn on coronavirus business grant scheme April 15, 2020 The Scottish government has changed its coronavirus business grant scheme to make it more generous for hospitality, retail and tourism chains after mounting criticism from the private sector. SNP finance minister Kate Forbes unveiled £220m of new grants today in a bid to close the gap between relief available for Scottish and English businesses. English [...]
Universal Credit boss promises improved payment delivery for new claimants April 15, 2020 A higher proportion of new benefits claimants will receive their payment on time than before the coronavirus outbreak, according to the boss of Universal Credit. In normal times, 87 per cent of new Universal Credit claimants get their first payment on time, which is after five weeks from applying, according to figures from the Department [...]