Economy News

UK unemployment rate rising

UK unemployment rate hits highest levels since 2016

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UK jobs data surges amid ongoing lockdown restrictions. However, UK companies report the highest employment intentions since the pandemic began. According to ING Economist James Smith, UK unemployment could hit 6.5% in 2021 if Chancellor Rishi Sunak refuses to...
Rishi Sunak unveils GBP 30bn coronavirus recovery package

Rishi Sunak expected to extend furlough scheme to june

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The Chancellor is expected to announce the extension to furlough during the Spring budget on 3rd March 2021. Sectors such as hospitality, travel, retail and leisure have been particularly hard hit and the extra financial support would allow...
Unlock UK Economy

IMF raises global growth forecast

IMF becomes more optimistic about global economic growth following rapid coronavirus vaccinations. They forecast the global economy will grow by 5.5% in 2021 and 4.2% in 2022. Economic growth for the UK has been altered to 4.5%. The IMF also acknowledged that the gap between rich and poor countries is likely to ...
Employers implement COVID testing and safety measures

COVID-19 vaccinations: Employee rights in the workplace

Can employers force workers to get COVID tested or be vaccinated against the coronavirus? Find more about employees personal rights in the workplace.
Boris Johnson

PM to lift lockdown when cases fall below 1,000

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“Ready, test, go!” Prime Minister Boris Johnson reveals UK government’s new slogan with the hope of lifting lockdown rules when cases are below 1,000. While Mr Johnson is optimistic that the country can return to some form of normalcy by July, he said that any easing of measures would depend on ...
US economic outlook (GDP)

UK economy suffers record slump due to COVID-19 restrictions

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The UK economy suffered its steepest annual contraction on record in 2020 due to coronavirus lockdown restrictions. Although the UK has avoided a double-dip recession due to Q4 growth, economic output slumped by...
Teamwork. Two smiling young business women sitting in office at table and working. On table is laptop, smartphone, tablet, paper charts and notebook. Students learning online, chatting. Brainstorming.

How much are international students worth to the UK

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International students make significant contributions to the UK economy but it’s feared that this could be impacted post-Brexit. The HEPI firmly believes that the benefits international students bring to the UK economy, thoroughly outweigh ...
Bank of England facade in London in the evening

UK economy to bounce back quickly, predicts Bank of England

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Bank of England delivers upbeat statement on the UK’s economic recovery outlook. Britain’s vaccine rollout to trigger a strong bounce back in 2021. During the Bank of England's (BoE) February monetary policy meeting, policymakers said ...
Unlock UK Economy

UK economy weighed down by coronavirus surge

The UK economy continues to be driven by COVID-19 as reports emerge of an extension to the furlough scheme. There is speculation that the scheme could be extended until the summer as...
Coronavirus cases in Europe

ECB to leave quantitative easing policy unchanged

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The ECB confirmed that it will not alter stimulus measures as it’s confirmed that Germany will extend national lockdown.
UK nightlife industry

UK facing double-dip recession amid lockdown extension talks

UK economy is facing a double-dip recession post-Brexit due to the economic fallout triggered by COVID-19. Boris Johnson pressured to ease lockdown.
Boris Johnson

UK holiday bookings for summer 2021 soar despite travel ban

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Boris Johnson updates the nation on UK travel ban and aviation recovery package. UK holiday bookings soar for 2021 due to COVID vaccine confidence. Environment Secretary George Eustice said the UK government is considering a full border closure to protect...