Bank of England offers hope for economy as it says Covid downturn might not be as bad as feared – but GDP will still shrink 9.5% this year and unemployment will hit 7.4 per cent as 135,000 people already face losing jobs The Bank of England has published its latest quarterly report on the UK … Read more
There are probably more jokes about economists than there are economists themselves. The oldest is that if you bring ten economists together you will get eleven opinions. Which makes what is happening in this Covid-stricken world so remarkable. Economists actually agree with each other — up to a point. They agree that we are facing … Read more
The cost of lockdown on Britain’s economy ‘has not been worth the lives saved’, study claims Lockdown ‘has not been worth the lives saved in economic terms’, study says NHS formula says damage is £70billion greater than value of years of life saved A study urges the Government to ditch blanket lockdown policies By Lucy … Read more
UK economy set for ‘incomplete V-shaped’ recovery from coronavirus crisis with a bounce back stalling at the end of 2020 because of rising unemployment, predicts Bank of England policymaker Bank of England expert Silvana Tenreyro said UK recovery could be ‘incomplete’ Rising unemployment at end of 2020 could cause economy bounce back to stall Continued … Read more
Is Britain bouncing back? Construction industry starts growing again at fastest rate for two years after suffering worst plunge EVER during coronavirus lockdown Construction industry returned to growth last month according to key index PMI measure came in at 55.3 with anything above 50 meaning sector expanding Uptick follows the lowest rating in history in … Read more
A third of people haven’t used a new plastic £20 note despite them being in circulation since February as coronavirus slashes the use of cash New notes were issued from February 20, about a month before lockdown started Reports have pointed to a decline in people using cash during the lockdown In April, the spending … Read more
Britain is planning to launch its own ‘GI Bill’ like the one brought in in America in 1944 to help soldiers learn new skills after the Second World War to fire up the UK economy after months of lockdown. Culture Secretary Oliver Dowden said he will work with businesses to create new digital training and … Read more
Outsider chosen to run City watchdog – with interim boss Chris Woolard shunned by the Treasury By Lucy White For The Daily Mail Published: 21:56 BST, 22 June 2020 | Updated: 22:05 BST, 22 June 2020 An outsider has been chosen to run the City watchdog – with interim boss Chris Woolard shunned by the … Read more
Government could have effectively gone BUST if the Bank of England had not bailed it out at the start of coronavirus crisis, says governor Andrew Bailey Andrew Bailey said government could have gone bust without Bank stepping in UK borrowing soared as the coronavirus crisis took its grip around the world Public debt is now … Read more
The Bank of England is expanding its cash-printing scheme by another £100billion – despite suggesting the economy is doing slightly better than the worst predictions. Governor Andrew Bailey has unleashed another round of quantitative easing, taking the total size of the commitments to £745billion. The widely-expected move came after inflation figures gave the Bank more wriggle-room … Read more