Chancellor rejects pleas for furlough extension

Chancellor Rishi Sunak has rejected calls for an extension to the furlough scheme and business rates relief, despite COVID-19 restrictions extending by a month. The temporary social security scheme is set to begin phasing out from 1 July and end completely on 30...

Renting a home now cheaper than buying one

The cost of renting grew at a record rate last month amid huge spikes in house prices, but regardless, renting is now cheaper than buying a house. The average cost of a rented home in Britain jumped to £1,054 per month in May, up 7.1% on the same month last year...

The economy grew by 2.3% in April 2021

The Office for National Statistics estimates that GDP grew by 2.3% in April this year as Government restrictions continued to cease, causing the fastest monthly growth since July 2020. Data shows that GDP in April was still 3.7% below the national output seen in...

Furlough figures fall to their lowest levels this year

The Treasury has said that its plan to protect jobs during the pandemic "is working" as furlough numbers have fallen to their lowest levels this year according to official figures. Around 1.3 million fewer people accessed the scheme in March and April, bringing the...

Government borrowing surpasses £30bn in April

Public sector net borrowing, excluding that from public sector banks, hit an estimated £31.7 billion in April 2021, the second highest April borrowing since monthly records began in 1993, £15.6bn less than in April 2020. The figures from the Office for National...