Although everyone knew that the UK economy suffered a significant blow because of the lockdown, few experts expected the UK coronavirus recession to be the worst on record. The latest ONS figures show that GDP is 17.2 per cent lower now than it was in February. A country is in recession if the economy shrinks […]
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In his mini-budget today, the Chancellor is set to announce a £2bn investment into a new coronavirus employment scheme for young people. Under the scheme, the government will pay the wages of 18-24 year-olds working 25 hours per week. Employers have the option to make top-up payments. Although this youth employment boost has received a […]
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The European Union (EU) is keen to offer Britain a two-year transition period after Brexit provided that the latter pump more cash into the bloc. EU chief Brexit negotiator Michel Barnier announced on Wednesday that EU leaders would consider extending the 11-month transition phase after the UK formally left the bloc on January 31. “Such […]
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28 eight days into his tenure, the Chancellor, Rishi Sunak, delivered his UK 2020 budget speech. As expected, he has pledged billions of pounds to help the NHS and business deal with the ongoing coronavirus fallout. Sunak has also announced a major infrastructural spending package while delivering funding for areas hit by flooding and several […]
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In the UK, companies like Starbucks, Google, Facebook, and Amazon have come under fire for paying little tax on UK sales. Tax shaming is having an impact, but will it stop tech giants from shifting profits to low-tax countries? OECD efforts to put a stop to tax avoidance have received mix reactions. While some have […]
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