Boris Johnson vows ‘no return to austerity’ amid plans to freeze public sector pay November 20, 2020 Nearly 4m public sector workers may face a pay freeze next year, including soldiers, police officers, teachers and civil servants
Treasury rebuffs calls from City banks for help chasing bad debts from Covid loans November 20, 2020 Treasury rebuffs calls from City banks for help chasing bad debts from Covid loans
UK borrowing drops to £22bn in October but deficit hits new record November 20, 2020 The UK government’s borrowing dropped sharply in October as companies and individuals required less economic support, with spending on the furlough scheme almost quartering. Public sector net borrowing came in at £22.3bn last month, down sharply from a downwardly revised figure £28.6bn a month earlier, the Office for National Statistics (ONS) said. It was also [...]
Singing of arms and the man: Behind the big Boris defence announcement November 20, 2020 The announcement was preceded, of course, by a leak to the media, so that it could make a splash in the morning press. Standard practice these days, unfortunately — but the story was still an impressive one: the Prime Minister was giving the Ministry of Defence an extra £4bn a year for the next four [...]
Little ‘Christmas cheer’ as UK consumer confidence falls November 20, 2020 New coronavirus restrictions and rising cases knocked UK consumer confidence in November, a survey has shown, as people became more gloomy about their future economic health. The closely watched consumer confidence index from researcher GfK fell two points to minus 33 in November, its lowest reading since June. Britain’s economy has been hit particularly hard [...]
London business groups urge Sunak to give capital its fair share in spending review November 19, 2020 A pair of London business advocacy groups have called for the capital to receive significant amounts of funding in Rishi Sunak’s spending review next week amid fears the city could be overlooked. London First and the London Chamber of Commerce and Industry told City A.M. that it was vital the capital was not forgotten by [...]
Exclusive: Sadiq Khan’s PR budget soars by 33 per cent in four years November 19, 2020 Sadiq Khan has increased City Hall spending on public relations by 33 per cent over the course of his term in office, according to newly released figures. Numbers released by City Hall through a freedom of information request show the mayor spent £977,912 on press office costs for 2019/20, compared to £732,537 in 2015/16. Spending [...]
UK manufacturing orders drop as near-term outlook darkens November 19, 2020 Britain’s manufacturers suffered a fall in orders in November as governments tightened coronavirus restrictions in a bid to halt the rapid spread of coronavirus, a survey has shown. The CBI’s monthly measure of manufacturing order books fell to a score of minus 40 in November. It had picked up sharply to minus 34 in October, [...]
Road pricing can level up the nation and take our outdated transport system into the twenty-first century November 19, 2020 If the leaks from the Treasury this week are to be believed, Rishi Sunak has been presented a study on road pricing by his civil servants. He’d be a fool not to take it seriously. Shifting towards a comprehensive system of road pricing would help the chancellor level up the regions, drive down pollution, and [...]
One in seven UK companies at risk of collapse as recovery slows November 19, 2020 Around one in seven UK companies said they were at risk of collapse as the economy faces a tough winter with coronavirus cases still surging and an England-wide lockdown in place. The Office for National Statistics (ONS) said 14 per cent of UK companies reported having “low or no confidence” that they would survive the [...]