DEBATE: Given the lack of progress during the Covid-19 crisis, should the transition period be extended? June 5, 2020 Given the lack of progress during the Covid-19 crisis, should the Brexit transition period be extended? Sir Vince Cable, former leader of the Liberal Democrats and former secretary of state for business, innovation and skills, says YES. Extending the transition period will become critical as this government limps towards the end of June with no [...]
German factory orders plunge as global demand dries up June 5, 2020 German factory orders plunged in April at a much faster rate than expected as coronavirus hit the global economy and caused demand to dry up. Factory orders dropped 25.8 per cent in April compared to a month earlier, when they fell by 15 per cent. The figure was far below the 19.7 per cent contraction [...]
A pro-growth vision for the UK economy June 5, 2020 The UK needs a pro-growth economic policy. That is one of the key lessons likely to arise from this crisis. It is also the central message of a new report that I have co-authored for the think tank Policy Exchange. The pro-growth strategy should be based on three arrows: credible fiscal activism, monetary and financial [...]
The business of running: Trainer sales and fitness apps boom in lockdown June 5, 2020 Running in the UK has been booming for years, with Parkrun events attracting hundreds of thousands each Saturday and amateur athletes comparing their fastest times on new tracking apps. That trend has only accelerated under the coronavirus lockdown, albeit in a more solitary way. As normal life has ground to a halt, huge numbers of [...]
Consumer confidence hovers near record low during coronavirus crisis June 5, 2020 Consumer confidence continued to teeter on the brink of hitting record lows during the ongoing coronavirus crisis. Consumer confidence dipped two points to minus 36, just three points above the record low of minus 39 reported in July 2018, as house prices fell and unemployment rose. However, GfK’s major purchase index rose six points, showing [...]
Scrap BoE’s two per cent inflation target, says think tank June 4, 2020 The Bank of England’s (BoE) two per cent inflation target should be scrapped and replaced with a four per cent nominal GDP target, a think tank has said. A Policy Exchange paper published tomorrow urges the government to consider temporary tax cuts to boost the economy after the pandemic. Some of the measures proposed include [...]
Alok Sharma tests negative for coronavirus June 4, 2020 Business secretary Alok Sharma has tested negative for coronavirus, after he was seen visibly unwell in the House of Commons yesterday. Sharma took to Twitter to announce he was Covid-free this evening, after a day of speculation that other cabinet members would have to self-isolate if the business secretary tested positive. “Huge thanks to everyone [...]
A menu of options to keep our restaurants alive June 4, 2020 You all know the image: a politician enjoying a pint or a meal at their local restaurant. There are handshakes all round and a picture is posted on Twitter. It is — rightly — a scene that shows MPs or councillors backing businesses, particularly the small and medium sized enterprises which make up the lifeblood [...]
Astrazeneca reaches global agreements to produce 2bn coronavirus vaccine doses June 4, 2020 Drugs giant Astrazeneca has made deals that will mean it can deliver 2bn doses of Oxford University’s potential coronavirus vaccine, double the previous number. The pharmaceuticals firm today said it had signed agreements with the Coalition for Epidemic Preparedness Innovations (CEPI), Gavi the Vaccine Alliance, and the Serum Institute of India (SII) to manufacture the [...]
Face coverings mandatory on TfL network from 15 June June 4, 2020 It will be mandatory for commuters to wear face coverings on all English public transport networks from 15 June, including on Transport for London (TfL). Transport secretary Grant Shapps made the announcement at today’s press briefing, adding that non-compliance would lead to a refusal of travel and fines. Shapps said there would be exemptions for [...]