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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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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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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On Wednesday, less than two months after the UK government agreed on a rescue deal, Flybe went into administration. A failing business model and the impact of the coronavirus led to the Flybe collapse. Tweeting to customers ‘DO NOT TRAVEL TO THE AIRPORT unless you have arranged a flight with an alternative airline’ Flybe publicised […]
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Brexit will not be delayed by the coronavirus outbreak, a spokesman for the prime minister has confirmed, saying the UK will not ask for an extension to the transition period which expires on December 31, 2020. However, the outbreak could push the UK’s economy to the brink of recession, warned Goldman Sachs as the number […]
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