Minimum wage hike to go ahead despite coronavirus pressure on businesses March 31, 2020 The UK minimum wage is set to rise tomorrow as planned despite calls for the government to postpone the increase due to the coronavirus outbreak. The National Minimum Wage will increase 6.2 per cent from £8.21 to £8.72 per hour from 1 April, despite the economic challenges caused by the coronavirus pandemic. However, two thinktanks [...]
Coronavirus: More than half of Brits expect a recession March 30, 2020 More than half of Britons now expect the economy to tumble into recession within a year due to the coronavirus outbreak, a poll has shown, with pessimism about household finances rising at the fastest rate on record. Pollsters Yougov said 52 per cent of people in the UK think the economy will be in recession [...]
Unemployment to double as coronavirus cripples the economy March 29, 2020 Unemployment in the UK is set to double in the next few months and economists are bracing for the coronavirus outbreak to hit harder than the financial crisis. Despite the government’s attempts to incentivise employers to keep staff on, investment bank Nomura predicts the effect of the pandemic will hit “multiple times that of the [...]
Carluccio’s left on the brink as coronavirus threatens to cause permanent closures March 28, 2020 Italian restaurant chain Carluccio’s is in danger of collapse as it warned it was facing permanent branch closures. The company is working with administrators as the coronavirus pandemic takes its toll. Prime Minister Boris Johnson announced that all restaurants, among other public venues, were to shut indefinitely a week ago in a bid to control [...]
Asda donates money to help food banks during coronavirus crisis as supermarkets offer new jobs March 23, 2020 Supermarket chain Asda will donate £5m to partner charities. The donation to the Trussell Trust and FareShare is part of an effort to help four million vulnerable families. “This funding will help us recruit and train new food bank volunteers across the UK, and support the coordination of packing and delivering pre-made food parcels to [...]
Coronavirus: Government temporarily suspends rail franchise agreements March 23, 2020 The Department of Transport is taking emergency measures to help the rail network survive a 70 per cent drop in passenger numbers as coronavirus prevents travel across the UK. Rail franchise agreements have been suspended temporarily to avoid collapse, and the government will instead pay train companies a small fee to keep operating some services. [...]
Coronavirus: US stocks lift on stimulus measures despite Europe turmoil March 20, 2020 US stocks lifted slightly on the open this afternoon as traders reacted to massive amounts of government stimulus aimed at containing the coronavirus crisis. The S&P 500 dipped 0.5 per cent before rising just 0.1 per cent and the tech-heavy Nasdaq rose 1.3 per cent. The Dow Jones posted a 0.5 per cent rise shortly [...]
Chancellor Rishi Sunak to announce wage bailout plan March 20, 2020 Chancellor Rishi Sunak is set to announce a massive wage bailout package today to battle the UK coronavirus outbreak. Business groups yesterday pressed the government to step in to help pay workers’ wages. They want protection for millions of jobs as the number of UK coronavirus cases spiked again. Britain’s death toll from coronavirus reached [...]
Pub industry warns Boris Johnson that lockdown measures put ‘hundreds and thousands of jobs’ at risk March 16, 2020 The UK pub industry has tonight written to Prime Minister Boris Johnson warning him that the government’s guidance that members of the public should avoid going to bars and pubs presents the sector with an “existential crisis”. In a letter from British Beer and Pub Association chief executive Emma McClarkin, the industry warned that “thousands [...]
Budget 2020: Government will raise living wage and lift floor for National Insurance March 11, 2020 The chancellor Rishi Sunak said today that the government will raise the national living wage to £10.50 by 2024 and will raise the minimum threshold for National Insurance. In his budget speech Sunak announced a goal of raising the national living wage to two thirds of median earnings by 2024 – which would be equivalent [...]