Coronavirus: Government will not provide industry-wide airline rescue package March 24, 2020 The government will not provide a single support package for the UK’s airlines and airports, but will instead provide aid on a case-by-case basis. The decision is an apparent u-turn on the government’s original plan. Last week chancellor Rishi Sunak said he would be discussing a potential package for “specifically airlines and airports”. Instead, Sunak [...]
High-spending Rishi Sunak proves a hit among Brits March 24, 2020 Prime Minister Boris Johnson’s approval ratings have turned positive for the first time as the public “rallies to the flag” during the coronavirus outbreak – but he’s still far less popular than chancellor Rishi Sunak. The 39-year-old chancellor, who only took up the job last month, has surged in popularity as he oversees the largest [...]
Coronavirus lockdown: Sadiq Khan urges construction sites to close March 24, 2020 Sadiq Khan has called for London construction sites to be closed down in the wake of the government’s effective coronavirus lockdown. The mayor of London said he disagreed with the government’s ruling that construction sites could stay open and that it would be “very, very difficult” for those workers to follow social distancing instructions. Khan [...]
Rishi Sunak: ‘Incredibly complicated’ to help self-employed during coronavirus outbreak March 24, 2020 Chancellor Rishi Sunak has said the government will unveil measures to support the self-employed but said it was very difficult to design support schemes for those not employed by companies. Sunak said he could not commit to a timeframe for the measures, however, as pressure rises on the chancellor to do more to support those [...]
Public urged to be vigilant amid rise in online coronavirus scams March 24, 2020 Members of the public have been urged to be vigilant due to a rise in online scams related to the coronavirus outbreak. Consumer groups warned that unscrupulous criminals were exploiting fears about the pandemic to prey on unsuspecting victims — particularly older and vulnerable people isolated from family and friends. National Trading Standards reported an [...]
Coronavirus to hit UK economy harder than financial crisis March 24, 2020 Business activity crashed at a record pace in March as efforts to contain coronavirus sent the UK economy into a tailspin, preliminary survey data has shown, putting Britain on track for an extreme recession. The IHS Markit/Cips private sector purchasing managers’ index (PMI) – a gauge of economic performance – plunged to a record low [...]
Getting through the Covid-19 pandemic will require markets as well as strong government March 24, 2020 Covid-19 is a major shock to our system. With the UK speeding towards lockdown and much of Europe in similar or worse straits, this crisis — as with most crises — is causing people to look to their governments. This is both understandable and necessary. Rishi Sunak’s excellent pledges (and performances) last week reassured tens [...]
Coronavirus and policymaking: Mario Draghi didn’t just say ‘whatever it takes’ March 24, 2020 These are unprecedented times. Our lives as we know them have been upended: the comforts of routine squarely thrown out of the window and replaced with a combination of anxiety and dread. The coronavirus pandemic of 2020 is a black swan that no one saw coming (though we should have been better equipped) and has [...]
Coronavirus: MPs call for emergency funding for cultural organisations March 23, 2020 MPs today called for urgent government support for cultural organisations hit by closures and postponements due to the coronavirus outbreak. The Tate galleries, V&A and Natural History Museum are among scores of cultural institutions that have been forced to close their doors due to the pandemic. The National Trust yesterday reversed its decision to keep [...]
Former BoE governor Mervyn King: Coronavirus crash worse than financial crisis March 23, 2020 Former Bank of England governor Sir Mervyn King has said the impact of the coronavirus outbreak will be much worse than the 2008 financial crisis. King, who led the Bank during the crisis, also said the country should be prepared for much higher borrowing as a result of economic policies to limit the fallout from [...]