Economy NEWS

BoE governor cautiously optimistic on post-Covid recovery

There is “light at the end of the tunnel” for the UK economy, according to the governor of the Bank of England, Andrew Bailey. In a speech to the Resolution Foundation think-tank, Bailey … Continue reading “BoE governor cautiously optimistic on post-Covid recovery”


Furlough extension and rise in corporation tax among measures announced in Budget

Chancellor Rishi Sunak has set out new measures to support the UK’s recovery from Covid-19, including an extension to the furlough scheme and a future increase in corporation tax. The Coronavirus Job Retention … Continue reading “Furlough extension and rise in corporation tax among measures announced in Budget”


Now is ‘not the time’ for tax rises, MPs say

Tax increases in the upcoming Budget could undermine the UK’s economic recovery from Covid-19, the Treasury Committee has warned. In a cross-party report published as part of its Tax After Coronavirus inquiry, the … Continue reading “Now is ‘not the time’ for tax rises, MPs say”


IMF anticipates ‘vaccine-powered’ rise in economic activity

With vaccines against Covid-19 expected to be widely available by the summer, the International Monetary Fund (IMF) is anticipating a pick-up in global economic activity later this year. Its latest growth forecast projects … Continue reading “IMF anticipates ‘vaccine-powered’ rise in economic activity”


UK unemployment climbs to 5%

Unemployment in the UK has continued to rise, driven by a big increase in redundancies, according to the latest monthly report from the Office for National Statistics (ONS). In the three months to … Continue reading “UK unemployment climbs to 5%”


Bank of England’s corporate finance ‘should align with climate goals’

MPs have criticised the Bank of England for providing finance to large businesses without imposing environmental conditions. The Environmental Audit Committee (EAC) has written a letter to the Governor of the Bank of … Continue reading “Bank of England’s corporate finance ‘should align with climate goals’”


UK economy ‘to get worse before it gets better’

The UK economy will get worse before it gets better, Chancellor Rishi Sunak has warned. In a speech to MPs, Sunak said that new national restrictions to control the spread of coronavirus are … Continue reading “UK economy ‘to get worse before it gets better’”


UK mortgage approvals reach 13-year high

Lenders in the UK approved more than 100,000 new mortgages in November, the most since the start of the financial crisis in August 2007, according to the Bank of England. The housing market … Continue reading “UK mortgage approvals reach 13-year high”


Four-day week ‘affordable for most firms’

Most firms in the UK could afford to switch to a four-day (32 hour) working week, according to a new study. The research by think tank Autonomy is based on profitability statistics on … Continue reading “Four-day week ‘affordable for most firms’”


Border closure could lead to gaps on supermarket shelves

UK supermarkets have warned that gaps may start to appear on shelves within days after France closed its borders to UK freight traffic. The blanket ban on arrivals from the UK came on … Continue reading “Border closure could lead to gaps on supermarket shelves”


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