LONDON Britain's emergency public spending surge and tax cuts to soften the coronavirus hit to the economy will cost around 133 billion pounds in the current financial year, the fiscal watchdog has said, helping to lift the budget deficit to wartime levels.
LONDON Britain's government provided more support to businesses hit by the coronavirus crisis, saying it would guarantee up to 10 billion pounds ($12.5 billion) in trade credit insurance schemes which protect businesses against defaults or payment delays.
LONDON British consumers cut their debts by the most on record and mortgage approvals slumped to a new low in April as the country spent the month in coronavirus lockdowns.
LONDON British manufacturers saw another sharp downturn in May, albeit less severe than in April, a report showed on Monday, as the sector called for "radical" government support to help companies survive the coronavirus crisis.
LONDON British finance minister Rishi Sunak offered fresh help to employers hammered by the coronavirus shutdown on Friday in the form of a gradual phase-in of contributions by them to the government's hugely expensive wage subsidy scheme. | Video
LONDON Some 8.4 million employees in Britain are covered by a state wage subsidy scheme for temporarily laid-off workers, up 400,000 from last week, finance minister Rishi Sunak said as he prepares to tell companies how they will share some of the cost.
LONDON A measure of British public debt leapt to close to 100% of the country's economic output in April, its highest in nearly 60 years, and retail sales slumped by a record 18% as the coronavirus crisis hammered the economy. | Video
LONDON Britain's economy could be facing a slower recovery from its deep coronavirus slump than the Bank of England suggested this month and all stimulus options, including sub-zero interest rates, should be considered, a BoE deputy governor said.