They’ve kept our shelves stocked, now it’s time to stand up for our seafarers July 9, 2020 The Covid-19 pandemic has been a desperately worrying time for many people all over the country, in virtually every sector. Thousands of lives have been lost and the global economy has been set back by many years. But there is another pandemic taking place behind the scenes — a hidden pandemic that may cause myriad [...]
Burger King boss warns over UK restaurant closures and job losses July 9, 2020 The chief executive of Burger King UK has warned that the fast food chain could close up to 10 per cent of its branches due to the coronavirus crisis, putting up to 1,600 jobs at risk. Burger King boss Alasdair Murdoch said that the burger chain could close between five to 10 per cent of [...]
Rishi Sunak says he will deal with debt levels once picture clears July 9, 2020 Chancellor Rishi Sunak has said he will seek to reduce the huge budget deficit amassed during the coronavirus pandemic once the trajectory of the economy is “clearer”. Sunak, who yesterday pledged another £30bn worth of stimulus to fight the downturn, said it was difficult to strike the right balance between protecting the economy and the [...]
Page Group profit halves amid coronavirus lockdown July 9, 2020 Page Group’s profit almost halved as countries around the world entered lockdowns to curb the spread of coronavirus, the recruiter said today. Gross profit sank 47.6 per cent overall, with the UK one of the worst performers, where income sank 61.5 per cent year-on-year in the three months to 30 June. France plunged 52 per [...]
Small business advisers, your country needs you July 9, 2020 Like a rallying cry in 1940s war-time Britain, thousands of the UK’s business advisers have been called up to do their bit for Britain’s small businesses as part of a timely initiative we are launching today. The national effort is asking accredited advisers to sign up and lend their expertise for an hour a month [...]
DEBATE: Is Rishi Sunak’s stamp duty holiday the right move? July 9, 2020 Is Rishi Sunak’s stamp duty holiday the right move? Clive Docwra, managing director of property and construction consultancy McBains, says YES. Raising the level where stamp duty tax kicks in to £500,000 is great news for the London property market. With the average cost of a home in the capital standing at close to £600,000, [...]
Tax less, spend more: the Chancellor’s Summer Statement July 8, 2020 The Chancellor delivered an Economic Statement that may not have been heralded as a Budget, but nonetheless delivered some significant changes to the country’s taxation and spending regime. In what was clearly a ‘Tax Less, Spend More’ statement, Rishi Sunak delivered not just a VAT cut for the few, but spending grants for the many. [...]
Budget deficit to surge past £300bn after Sunak stimulus, says IFS July 8, 2020 The UK’s budget deficit is set to rise further past the unprecedented £300bn mark after chancellor Rishi Sunak’s £30bn spending package of VAT cuts and job support programmes, the Institute for Fiscal Studies (IFS) think tank has said. It said such a high pile of debt meant future statements from the chancellor “are likely to [...]
FTSE 100 slips despite Chancellor’s raft of new stimulus measures July 8, 2020 The FTSE 100 closed lower on Wednesday, even after the Chancellor unveiled a £30bn stimulus package to get consumers spending again. London’s blue-chip index closed down 0.55 per cent at 6,156 points after a muted day of trading. The FTSE 250 index of slightly smaller companies finished the day 0.95 per cent lower. It came [...]
Rishi Sunak Summer Statement: All the Chancellor’s spending pledges July 8, 2020 Chancellor Rishi Sunak today announced a raft of measures in his Summer Statement in a bid to help the UK economy recover from the worst effects of coronavirus. The Treasury boss revealed massive public spending to bolster the UK economy in what people are calling his mini-Budget. While he did not extend the government’s furlough [...]