Oct 13, 2020 | Current Affairs
Public finances will see a £100 billion hit by 2024 as a result of COVID-19 borrowing, according to a report released by the Institute for Fiscal Studies (IFS).The report warns that even without excess spending, reduced tax income could see public finances hit by £100...
Oct 9, 2020 | Current Affairs
The UK economy continued to recover from the impacts of the coronavirus lockdown in August 2020, but growth was slower than in previous months, official figures show. The Office for National Statistics (ONS) reported that GDP grew by 2.1% in August 2020, its fourth...
Oct 8, 2020 | Current Affairs
Up to 60% of bounce-back loans (BBLs) may never be repaid, according to a report from the National Audit Office (NAO). Assuming the scheme lends £43 billion, this implies a potential loss to the Government of between £15bn and £26bn.The extent of the losses due to...
Oct 7, 2020 | Current Affairs
Chancellor Rishi Sunak has said there will be “hard choices” to come as he attempts to balance the books in the wake of the COVID-19 crisis.In an online speech addressing Conservative party members, Sunak said he could not continue to “borrow our way out of a hole”,...
Oct 5, 2020 | Current Affairs
The Treasury has attempted to clarify how businesses can claim the job retention bonus from next year.The bonus will work alongside the new job support scheme, which was introduced to continue to support jobs through the UK’s economic recovery from the COVID-19...
