Coronavirus: Sadiq Khan urges government to extend business relief March 17, 2020 Sadiq Khan has asked Boris Johnson for vastly increased financial relief for London businesses affected by the coronavirus outbreak. The mayor of London wrote to Johnson today to ask that “greater levels of assistance to businesses, large and small” is given through through tax breaks and cash handouts during the outbreak. Khan has specifically called [...]
Coronavirus: Pub stocks plunge on ‘stay home’ advice March 17, 2020 Pub stocks plummeted this morning following government advice for the public to avoid pubs and restaurants to slow the spread of coronavirus. The hospitality sector yesterday branded the government’s decision to urge people to stop going to venues without offering any additional help for businesses “catastrophic”. Pub operator Marston’s share price dropped more than 28 [...]
FTSE 100 slides after brief rebound following G7 coronavirus pledge March 17, 2020 The FTSE 100 has dropped back into the red, having initially recovered some of yesterday’s losses following a pledge from G7 leaders to do “whatever is necessary” to fight the coronavirus pandemic. Britain’s blue chip index gained as much as three per cent immediately after the open, but had fallen back into the red just [...]
UK budget watchdog: No time to be ‘squeamish’ about big coronavirus spending March 17, 2020 Britain’s economy faces a “wartime situation” and the government must not be “squeamish about one-off additions to public sector debt,” the head of Britain’s fiscal watchdog has said. Robert Chote, head of the Office for Budget Responsibility (OBR), told MPs that a big fiscal package to support the UK’s businesses and households would be “money [...]
Sterling falls to six-month low as UK tightens virus measures March 17, 2020 Sterling dropped to its lowest level against the dollar in roughly six months today as the UK ramped up its measures to halt the spread of coronavirus. The pound fell as much as 0.6 per cent to $1.219 this morning — its lowest level since early September. Against the euro it edged up 0.2 per [...]
Chancellor Rishi Sunak to unveil lifeline for virus-hit businesses March 17, 2020 Chancellor Rishi Sunak is today expected to unveil a raft of additional measures to help the economy amid fears the coronavirus outbreak could put some firms out of business. In a joint press conference with Prime Minister Boris Johnson, scheduled for today, the chancellor will offer a larger bail-out fund for struggling firms, according to [...]
‘Levelling up’ is as important for London as it is for the rest of the country March 17, 2020 For many years there have been calls to bridge the UK’s stark north-south divide. These have come under many badges, from “rebalancing the economy” to “building a Northern Powerhouse”. Now, “levelling up” is the choice term for a government ambitious to deliver for voters who tore down Labour’s so-called “red wall” in December’s election. It [...]
Government announces plans to ensure new homes come with gigabit-speed broadband March 17, 2020 Digital secretary Oliver Dowden will today announce that the government will pass legislation to ensure new homes are built with gigabit-speed broadband. Currently, about one in five new homes is still built without gigabit-speed connections, but the new legislation will ensure developers are legally required to install digital infrastructure with internet speeds of over 1,000 [...]
‘Catastrophic’: Hospitality and leisure industries sound alarm over Johnson measures March 17, 2020 The UK’s hospitality industry issued a doom-laden warning last night after Prime Minister Boris Johnson yesterday told Brits to steer clear of pubs, eateries and theatres as the government escalated its coronavirus “fightback”. In a statement which Johnson acknowledged was unprecedented in peacetime, he urged Londoners in particular to “avoid all non-essential contact” with others [...]
Economists warn UK low-paid need more support amid coronavirus March 16, 2020 The UK government must do more to support individuals as they deal with the economic fallout from the coronavirus epidemic, leading economists have said. Prime Minister Boris Johnson today announced new government advice for people to avoid “all unnecessary social contact” and for those with any symptoms to stay at home for two weeks. Torsten [...]