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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
The Bank of England slashed its growth forecast for this year today but voiced hope that the rapid vaccine rollout will spark a strong recovery after June. In its latest Monetary Policy Committee report, the Bank reduced its estimate for economic growth for 2021 from 7.25 per cent to 5 per cent. It said an expected … Read more
IMF downgrades UK growth forecast for this year to 4.5 per cent as renewed Covid lockdowns smother recovery The IMF has downgraded its forecast for the UK’s growth amid fresh lockdowns Body now expects 4.5 per cent expansion this year as rest of Europe suffers Wider outlook for the world has improved and hope for … Read more
RUTH SUNDERLAND: There’s hope this house price boom may be far from over By Ruth Sunderland Business Editor For The Daily Mail Published: 00:59 GMT, 21 January 2021 | Updated: 01:00 GMT, 21 January 2021 COVID-19 has caused more damage to the UK economy than any other crisis in living memory, yet the housing market … Read more
Arcadia administrators are set to permanently shut another 31 of the fashion group’s stores by the end of January, with the loss of 714 more jobs. Sir Philip Green’s Arcadia retail empire collapsed into administration at the start of December. Arcadia, which once consisted of 444 UK retail chain stores including Topshop, Miss Selfridge, Dorothy … Read more
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
Heading back to square one: January shopping levels are just one third of what they were last year, furlough numbers are INCREASING and 15 per cent of businesses fear they won’t survive the next three months New Office for National Statistics data paints a grim picture for UK businesses Retail footfall in week ending January … Read more
Debenhams will shut the chain’s flagship Oxford Street store along with five others permanantly as the liquidation of the historical chain continues. The department store closures will result in the loss of around 320 jobs, with stores in Portsmouth, Staines, Harrogate, Weymouth and Worcester closing their doors for good. The company started a liquidation process last … Read more
Deliveroo will expand to 100 new towns and cities across UK for an additional four MILLION customers following surge in demand during pandemic Food delivery service Deliveroo will expand reach to 100 new cities and towns Currently operates in over 200 locations but will reach four million more people Additional customers will be able to access … Read more
The return of Tony Blair? Ex-Labour leader and three-term prime minister ‘advising Matt Hancock and other Tories on vaccines strategy’ because he believes he can improve ‘inadequate’ leadership Mr Blair is powerful figure in the fight to use vaccines to save lives and economy Sunday Times said he offered ‘strategic advice’ to Hancock several times … Read more