Economy News

Unlock UK Economy

UK Prepares for economic recovery

The UK economy is set to see a sharp recovery next week as businesses reopen and public spending expected to surge.
Unlock UK Economy

IMF raises global growth forecast

With the global economic outlook becoming increasingly optimistic, the IMF has raised their global growth forecast for 2021 and 2022.
Employers implement COVID testing and safety measures

COVID-19 vaccinations: Employee rights in the workplace

As businesses prepare to reopen, we take a look at the rights of workers when it comes to COVID-19 vaccinations.
UK Business Confidence

Rishi Sunak launches Recovery Loan Scheme to boost UK growth

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Chancellor Rishi Sunak launches a Recovery Loan Scheme to boost Brexit Britain’s growth. The UK expected to outstrip Europe due to vaccine success.
The Office for National Statistics (ONS) has upwardly revised UK economic growth projection for 2021 after Q4 gross domestic product (GDP) data for 2020 revealed that Britain's COVID-19-battered economy beat forecasts. While the UK economy remains smaller than its pre-pandemic levels

UK economy forecast to bounce back stronger-than-expected

The Office for National Statistics (ONS) has upwardly revised UK economic growth projection for 2021 after Q4 gross domestic product (GDP) data for 2020 revealed that Britain's COVID-19-battered economy beat forecasts. While the UK economy remains smaller than its pre-pandemic levels...
EU Belgium

European Central Bank and Bank of England tell same old story

It’s as you were for interest rates in the United Kingdom and the European Union – and it could be that way for some time. During recent monetary policy meetings for both the European Central Bank (ECB) and Bank of England (BoE), both declared...
Rishi Sunak unveils GBP 30bn coronavirus recovery package

Rishi Sunak extends furlough scheme to September

Further support will be offered to workers impacted by the coronavirus crisis as the chancellor extends the furlough scheme to the end of September.
President Biden

Biden planning for an additional USD 3 trillion recovery package

Following the passing of the USD 1.9 trillion coronavirus stimulus package, President Biden looks to combat climate change with his next recovery plan. The Biden Administration is set to release full details of the proposed package this week to congressional leaders. Monday saw the President...

UK public finances deteriorate further due to COVID-19

UK government public sector borrowing hits record levels in February but figures also confirm that the economy will stage a rapid recovery in 2021. During Thursday's Bank of England (BoE) policy meeting, policymakers stated that the UK economy could stage a rapid recovery this year and...
17,500 chain stores close in 2020 due to COVID

17,500 chain stores close in 2020 due to COVID restrictions

17,500 chain stores closed across the UK in 2020 due to the impact of COVID-19 and the high street remains at risk due to the third national lockdown. Figures compiled by London-based retail location insight company, Local Data Company (LDC), reveal that...
Unlock UK Economy

UK economy shrinks in January due to third national lockdown

UK economy contracts in January due to coronavirus lockdown restrictions but outdoes consensus expectations. GBP trading on the defensive. The slump in UK GDP was driven by the services sector, which declined by 3.5% in January, as hair salons, restaurants and retail stores were forced to close their doors again...
UK Economy Will be Subject to Enormous Strains Says Sunak

UK economy will be subject to enormous strains says Rishi Sunak

Whilst the UK economy has shown signs of improvement this year thanks to the successful vaccination programme, Mr Sunak highlighted that the UK’s high level of coronavirus related debt will soon need to be paid off. The past few weeks have seen...
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...
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 ...