Has the dream of a ‘V-shaped’ economic recovery died? July 14, 2020 Much has been made of whether or not the UK is going to see a ‘V-shaped’ economic recovery from coronavirus. That is, a sharp fall in output followed by an almost equally quick rebound. Those hoping for such a sharp bounce-back appeared to have been dealt a harsh blow today when official figures showed the [...]
City calls for deeper tax relief as UK sinks into recession August 12, 2020 Business groups have called on the government to take “bold action” after the UK economy plunged into recession last quarter as GDP contracted by 20.4 per cent between April and June, the biggest single quarter decline on record. With vast swathes of the economy closed due to the coronavirus lockdowns, activity flatlined in April, before [...]
Thomas Cook: Taxpayers will pay for next tour firm collapse, says watchdog March 19, 2020 The collapse of Thomas Cook has left the government’s tourism industry fund severely depleted, meaning taxpayers would have to foot the bill if another tour operator falls into insolvency. Thomas Cook’s shock insolvency and the subsequent repatriation of thousands of customers cost the government at least £156m, according to the National Audit Office (NAO). The [...]
Splash the cash and hope for the best March 12, 2020 He didn’t look or sound like a man who had only been chancellor for a matter of weeks. It would have been a difficult debut outing in good times, but delivering an emergency Budget — just hours after an emergency rate cut — would test the mettle of a seasoned parliamentary grandee. The delivery was [...]
Gatwick chief takes 20 per cent pay cut as airport lays off 200 workers March 17, 2020 Gatwick Airport has implemented a number of measures to protect its financial resilience in light of plummeting airline demand due to the coronavirus outbreak. The airport is cutting 200 of its temporary staff and exploring the potential to introduce options for unpaid leave or temporary salary reductions for staff. Chief executive Stewart Wingate will take [...]
Eat Out to Help Out – the best restaurants taking part in the government hospitality scheme August 1, 2020 There was a time when dropping most of your disposable income on avocado on toast made you an idiot who will never be able to afford a house. Now it makes you a hero who will save the economy. It’s so vital that you start eating at restaurants again that, as of Monday, the government [...]
Sajid Javid issues PM a warning over fiscal rules and urges him to ‘balance the books’ February 26, 2020 Former chancellor Sajid Javid has issued a warning to the government not to allow spending to get out of hand, telling Boris Johnson and Rishi Sunak the country’s fiscal rules are “critical”. Speaking in the Commons for the first time since he quit during the reshuffle, in the unusual move of giving a personal statement [...]
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 [...]
Is entrepreneurship set to boom post-pandemic? June 23, 2020 Ronel Lehmann backs the next generation to find their own way in an increasingly confusing world When we’re growing up, we plan for a world that has changed by the time we arrive in it. This has always been a problem: how do you look ahead when the world is moving so fast? It’s never [...]
Recovery Vouchers on the Blockchain July 7, 2020 In Sunday’s City AM it was reported that Chancellor Rishi Sunak is considering plans to hand £500 to every adult and £250 to every child to spend with businesses that are most affected by COVID-19 lockdown. The initial proposals include making these payments available via vouchers, travel cards or mobile phone credits. How could the [...]