Britain’s coronavirus-ravaged economy will plunge even further if it fails to agree a Brexit trade deal with the EU, ministers were warned today. The Office for Budget Responsibility (OBR) said that UK GDP could fall an additional two per cent next year if no agreement is in place before December 31. This is on top … Read more
A secret government memo has warned of a ‘systemic economic crisis’ when Britain leaves the European Union in the midst of the coronavirus pandemic’s second wave. The Cabinet Office dossier raises the spectre of a perfect storm: ‘severe flooding, pandemic influenza, a novel emerging infectious disease and coordinated industrial action, against a backdrop of the … Read more
They are the figures that should give any government pause for thought — a terrifying reflection of the catastrophic effect on the economy of the pandemic. This Mail analysis of the financial cost of the virus — to jobs, the economy, businesses and the public finances — could not be more sobering. It follows our … Read more
Rishi Sunak has warned of tax rises in the spring and joked about having to confiscate Boris Johnson’s credit card to kerb his spending. The Chancellor made the quip as he prepares to reveal his plan to balance the books and recover from the pandemic in his spending review on Wednesday. He hinted that taxes … Read more
‘I should take his credit card away’: Economic hawk Rishi Sunak jokes about Boris Johnson’s desire to turn on the spending taps as he prepares to outline coronavirus economic plans The Chancellor made the quip ahead of spending review on Wednesday Mentioned elf-on-the-shelf toy which makes sure his two children are behaving Asked if PM … Read more
Rishi Sunak’s ‘scary’ economic forecast: Chancellor will reveal devastating financial effect of pandemic next week… and predicts it will still be felt in 2024 Rishi Sunak will deliver ‘scary’ economic forecast his spending review next week His plans will rely on the predictions showing devastating effect of coronavirus Office for Budget Responsibility expected to forecast … Read more
The economic fallout during the coronavirus pandemic has made the prospect of World War Three ‘a risk’, the UK’s most senior military commander has said. General Sir Nick Carter, the Chief of the Defence Staff, said Britain and the rest of the world would need to ‘learn’ from history and the international missteps that led … Read more
Ministers were blasted last night after it emerged they had decided to plunge England into another lockdown without a full assessment of the economic impact. Tory MPs led by Sir Graham Brady, the chairman of the backbench 1922 Committee, had demanded the release of the Treasury’s assessment of the effect of a shutdown on jobs. … Read more
The Government‘s extension of the furlough scheme to cover worker wages during the new lockdown will cost £7 billion, MailOnline understands. As Boris Johnson last night pledged to extend payments at 80% to December, the impact on Britain’s already crippled economy emerged, with one expert claiming the new rules will cost £1.8billion each day. The Prime … Read more
Boris Johnson finally arrived at the Downing Street podium yesterday, his press conference had been delayed four times over three hours. The Prime Minister had been forced to telescope two days of preparations for the expected Monday announcement into one afternoon following a leak to yesterday’s papers – and amid claims of chaos and infighting … Read more