The United Kingdom formally commenced a free-trade negotiation with Australia and New Zealand, almost five months after its exit from the European Union (EU). A report by Al Jazeera on Wednesday quoted Australia’s Trade Minister Simon Birmingham that the country started talks with the two parties as part of its diversification strategy amid its dispute […]
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The number of British people receiving work-related benefits soared by 126% between March and May as the number of people employed over the same period plunged by 600,000. Office of National Statistics figures released today show the early impact of the lockdown on the UK’s economy but experts have warned its full effect will not […]
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Three Europe-based airlines have sued the UK government for its “flawed” plan to quarantine all inbound travellers, saying the move will threaten tourism and the economy. In a joint statement, British Airways, Easyjet, and Ryanair said that they sued the government to force judges to review a new rule from the British Home Office that […]
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When the first wave of the pandemic hit the UK, the government introduced special support measures for coronavirus and the homeless. Rough sleepers got hotel rooms as councils worked to get everyone off the street. The councils’ action came in response to the government’s special homelessness advisor, Dame Louise Casey, introducing the ‘get everyone in […]
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The UK has recorded its biggest ever monthly increase in unemployment claims with 856,500 people added to the benefits list in April. The overall number of people claiming universal credit and jobseekers allowance spiked to almost 2.1 million, according to official figures released by the Office for National Statistics (ONS). Economists said the 69% spike […]
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Consumer spending in the United Kingdom contracted by over a third last month as a result of retail shops shutting to reduce the impact of the coronavirus on their businesses. Data from Barclaycard—Britain’s largest credit and debit card provider—showed that consumer spending in April plunged by as much as 36.5% as compared with the same […]
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Chancellor Rishi Sunak has assured millions of furloughed Britons that the government will continue paying a share of their wages up until the end of October. The job retention scheme – which has cost £10bn so far to support 7.5 million workers and almost one million businesses – has been a “world leading economic intervention” […]
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The Bank of England (BoE) is mulling over slashing key policy rates to below zero as part of its efforts to support the UK economy. In a television interview on Tuesday, BoE Deputy Governor Ben Broadbent said that the central bank was open to the possibility of negative interest rates, but that it was a […]
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The UK government is set to scrap sales tax on essential protective equipment as it seeks to help reduce the expenses of non-profit organisations such as care homes, charities, as well as businesses. On Thursday, the Ministry of Finance said the sales tax cut would save more than 100 million pounds for those buying medical […]
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Flag carrier British Airways Public Limited Company is set to lay off thousands of its employees amid the huge drop in air travel demand over fears of the coronavirus outbreak. The company revealed in a letter to the British Airline Pilots Association (BALPA) Union on Tuesday that it would let go of 1,130 flight captains […]
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