Investing in tech could give UK economy a £232bn boost, says report

Digital technology investment could boost the economy by £232bn over the next 20 years, reseacrh finds Tech investment in health and social care alone could add £33bn to UK GDP  Starting investment early could add £74billion to Britain’s economy by 2025 Covid-19 has accelerated flexible working and the delivery of digital services By Harry Wise … Read more

Double-dip recession fears ease as economy grew 1% in fourth quarter

The UK looks set to avoid a double-dip recession after it was announced today that the economy stayed in positive territory in the final quarter of 2020.  GDP grew by 1 per cent in the fourth quarter, better than some experts had expected. There have been fears that another recession is looming, after the historic … Read more

Hollywood films have injected $1.5BILLION into the Australian economy

Hollywood productions have injected $1.5BILLION into the Australian economy and created more than 12,000 jobs (so don’t complain about A-list stars getting special treatment) By Candice Jackson For Daily Mail Australia Published: 02:39 GMT, 11 February 2021 | Updated: 02:43 GMT, 11 February 2021 Australia has become the new Hollywood during the Covid-19 pandemic as … Read more

Rishi Sunak told hiking taxes in Budget will hit UK economy hard

Rishi Sunak was today warned that hiking taxes too early risks wrecking the fledgling economic recovery as a think-tank said the UK faces the biggest hit in the G7   The respected NIESR urged the Chancellor to be cautious in his Budget next month, despite hints that he intends to start repairing the battered public finances.  … Read more

What CAN Britain learn from Beijing? China’s economy is surging ahead

China was the first country in the world to be struck by coronavirus and its economy is the first to recover. It expanded by 6.5 per cent in the final quarter of 2020, making it one of the few countries to be able to chalk up growth for the year. Industrial production drove the revival, … Read more

China thought to be world’s only major economy to have grown in 2020

China was the world’s only major economy to have grown in 2020 with all others suffering Covid-related recessions By Hugo Duncan for the Daily Mail Published: 21:51 GMT, 18 January 2021 | Updated: 21:51 GMT, 18 January 2021 China looks set to be the only major economy in the world to have grown last year … Read more

China was the only major economy to grow in 2020

China’s economy grew by 2.3 per cent in 2020, official figures revealed today, making the the country where the pandemic began the only major economy to grow at all last year while the rest of the world was ravaged by Covid-19.  After allegedly covering up the outbreak in its early stages, China brought the epidemic … Read more

ALEX BRUMMER: Economy needs boost to raise tax revenues

ALEX BRUMMER: Economy will remain under restrictions until Easter, but quicker it is brought back, faster tax revenues will flow back to Exchequer The damage to output turns out to be far less than most forecasters predicted Chancellor Rishi Sunak should avoid a Covid measures cliff-edge on March 31 The expensive furlough scheme, the VAT … Read more

UK GDP fell 2.6% in November as economy hit by second Covid lockdown

Rishi Sunak warns of ‘harder’ times to come with UK on track for double-dip recession despite signs of resilience with GDP only falling 2.6 per cent during second coronavirus lockdown in November GDP fell again in November as the four UK nations imposed fresh restrictions Brought an end to six consecutive months of recovery for … Read more

From furlough to the FTSE 250: Britain’s economy in 2021 explained in charts

The Office for National Statistics this morning found the UK economy went into reverse in November, shrinking 2.6 per cent on October. Statisticians said new restrictions aimed at curbing the coronavirus, including a second national lockdown, were responsible for the hit to the economy.  It means the UK economy is still 8.5 per cent smaller … Read more