Exclusive: MPs slam ‘inconsistency and incompetence’ as SMEs struggle to get bounce back loans September 28, 2020 Banks have been told to ensure that no small businesses are “locked out” of government-backed coronavirus loans, after firms were left unable to access the loans despite being eligible for funding. MPs said lenders accredited under the scheme should re-open applications for bounce back loans (BBLs), designed to help small companies weather the pandemic. Barclays [...]
There’s no place like work: Office spaces still have a future September 28, 2020 There is talk that working from home has become so ingrained and that the old working arrangements are so untenable in this new socially distanced and digitally enhanced world, that it will force city centre offices to be entirely repurposed — and perhaps turned into vertical rabbit hutch towers of studio flats. This debate is [...]
Small business would suffer from a capital gains tax hike – not just investors September 28, 2020 Capital gains tax (CGT) increases were reported to be in the chancellor’s sights before the Autumn Budget was cancelled to allow Rishi Sunak to focus on his winter economic plans. However any changes to CGT down the line could discourage small business investment just when it is needed most, says Claire Madden. Has there ever been a [...]
As well as protecting jobs, the government must enable a safe return to the workplace September 28, 2020 Fittingly, the weather has taken a turn for the worse over the last week just as the economic headwinds facing the UK risk turning into a perfect storm. After many months of lockdown, the number of people returning to their City workplace had visibly started to pick up in recent weeks – particularly as schools [...]
For the next six months, should you spend the time on survival, or plan how to thrive? September 28, 2020 “Cap’n, she can’nae take much more of this.” Who would have thought that the much loved Scotty would capture the scene not of star trekking but the more earthly matter of the mood of business here on terra firma. Make no mistake, the UK economic dashboard is blinking red, and the worry has to be [...]
Restaurant industry risks ‘lost generation’ without more support, top chefs warn September 27, 2020 Raymond Blanc and Michel Roux Jr have warned that the restaurant industry risks losing a generation of talent and will “suffer enormously” amid fresh coronavirus restrictions and gaps in government support. Industry figures have condemned the new 10pm curfew as “devastating”, while a quarter of hospitality businesses fear they will go bust by the end [...]
Evidence on negative rates ‘encouraging’, says Bank of England policymaker September 27, 2020 The Bank of England has seen “encouraging” evidence that negative interest rates could help the British economy during the downturn triggered by the coronavirus, a policymaker has said. Silvana Tenreyro, who sits on the Bank’s monetary policy committee (MPC), said the committee has been discussing what options it has in its toolkit, including “how effective [...]
Covid-19: Protesters clash with police at anti-restrictions rally in London September 26, 2020 The Metropolitan Police and protestors have clashed at a rally against coronavirus restrictions in Trafalgar Square after officers attempted to disperse the crowd for “not complying” with social distancing. Thousands of people attended the “We Do Not Consent” protest in the centre of London and did not social distance or wear masks as they protested [...]
SAGE expert warns of 100 Covid-19 deaths a day within four weeks September 26, 2020 The daily death toll in the UK caused by Covid-19 will rise to around 100 per day within four weeks, according to a member of the government’s scientific advisory board, SAGE. Professor Graham Medley said little can be done to prevent the daily deaths rising from the current 34 per day to 100 due to [...]
UK to pledge £340m increase in funding for World Health Organisation September 26, 2020 Prime Minister Boris Johnson will pledge on Saturday a 30 per cent increase in funding for the World Health Organization while urging reforms to the global health body and calling for a revival of cross-border cooperation to end “ugly rifts”. Delivering a recorded speech to the United Nations General Assembly (UNGA), Johnson will say the [...]