Edition:
United Kingdom

William Schomberg

Factbox: UK to spend over 130 billion pounds to soften COVID-19 slump

05 Jun 2020

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.

UK offers 10 billion pounds in guarantees for trade credit insurance

04 Jun 2020

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.

UK households, locked down in April, cut debts by most on record

02 Jun 2020

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.

Little respite for UK factories as calls for 'radical' action grow

01 Jun 2020

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.

UK helps employers with slow phase-in of job shield costs

30 May 2020

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

UK workers covered by coronavirus wage subsidy hit 8.4 million

27 May 2020

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.

UK debt soars to highest since 1963, retail sales slump

22 May 2020

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

Exclusive: UK risks slow COVID recovery, all stimulus options under review - BoE's Ramsden

22 May 2020

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.

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