‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Coronavirus: Vital to start planning for economic recovery, CBI says April 14, 2020 The head of the UK’s largest business lobbying group has said that the UK must begin to plan its economic recovery from the coronavirus pandemic even while the death toll continues to rise. Speaking to Sky News, Dame Carolyn Fairbairn, the director-general of the CBI, said that “we need to begin to chart a route [...]
Coronavirus: New York hospitalisations fall for the first time April 14, 2020 The number of patients hospitalised with coronavirus in New York fell for the first time today, leading to hopes that the virus may have reached its peak in the state. New York governor Andrew Cuomo said that total of 18,697 people were hospitalized across the state, down from 18,825 a day earlier and the first [...]
Rishi Sunak says there is ‘no trade off’ between economy and public health April 14, 2020 Rishi Sunak has said there is no trade-off between public health and the economy in the wake of new estimates suggesting GDP will drop by 35 per cent this quarter. Speaking at today’s press briefing, the chancellor said the coronavirus lockdown was necessary to protect the long-term future of the economy. This is in contrast [...]
‘Unfair’ Covid-19 business grant scheme means more Scottish firms could go under April 14, 2020 Concerns are growing among Scottish businesses that the SNP government’s failure to match Westminster’s coronavirus economic support will force a string of retail and hospitality chains to go bust. English hospitality, tourism and leisure chains have been offered government grants of up to £25,000 per property, as long as the building’s rateable value is less [...]
Coronavirus: UK economy could shrink by 35 per cent in second quarter April 14, 2020 The UK economy could shrink by 35 per cent in the second quarter of this year and unemployment could hit 10 per cent as coronavirus lockdown measures take a devastating toll, Britain’s budget watchdog has warned. The Office for Budget Responsibility (OBR) said such a slowdown could send the budget deficit to its highest level [...]
Sajid Javid: Right policies can make economy’s coronavirus recovery ‘V-shaped’ April 14, 2020 Former chancellor Sajid Javid has said the UK economy’s recovery from coronavirus can be “V-shaped” if the government follows “free market” policies once the worst of the virus has passed. Javid – who was chancellor for seven months until February – today welcomed his successor Rishi Sunak’s unprecedented interventions into the economy. Sunak has unveiled [...]
Coronavirus: Banks approve 1.2m mortgage holidays amid financial strain April 14, 2020 More than 1.2m UK households have agreed mortgage holidays with their banks, figures have shown, as the coronavirus crisis causes borrowers unprecedented financial stress. Chancellor Rishi Sunak announced on 17 March that households with mortgages would be entitled to three-month payment holidays, meaning payments would be suspended. It was part of an unprecedented coronavirus response [...]
An open letter: Two things the government must do to save UK charities April 14, 2020 Charities play a vital role in communities across the UK. But at this time of crisis — when they are needed most — many are experiencing a sharp drop in income. This is harming their ability to support people during the crisis and threatens their survival. The government’s £750m package is a welcome first step, [...]
Coronavirus: UK job vacancies plummet in March April 14, 2020 The number of UK permanent job vacancies has been cut in half by the coronavirus outbreak, according to new figures. Jobs data, released today by growth analytics platform cube19 for the Association of Professional Staffing Companies (APSCo), showed that permanent vacancies in the last week of March were down by 50 per cent year-on-year. Contract vacancies [...]
UK GDP could fall by 30 per cent in second quarter April 13, 2020 Chancellor Rishi Sunak has reportedly told ministers to expect GDP to fall by as much as 30 per cent between April and June. The government’s draconian social distancing measures will be reviewed next week, with an extension considered a formality. The coronavirus lockdown has already begun to bite the UK economy, with activity in the [...]