As many as one in 20 local authorities in England risk financial failure as a result of a disruptive European Union Exit, according to a leaked government report.
The government has announced it is to allocate £220m of pilot funding to the UK Shared Prosperity Fund next year, to help local areas prepare for the full launch of the fund.
The government is set to borrow a peacetime record £394bn this year, as it funds Covid-19 support measures, according to the Office for Budget Responsibility.
The UK’s GDP is forecast to decrease by as much as 3.6% in the final three months of this year as result of the second lockdown, according to advisory firm PwC.
Monetary policy will attempt to combat long-term scarring to UK GDP from Covid-19 forecast at £40bn a year, according to a deputy governor of the Bank of England.
The government has announced it is extending the Coronavirus Job Retention scheme for a further four months, alongside increased support for self-employed workers.
The ongoing pandemic disruption combined with Brexit could overwhelm local authorities and devolved administrations, according to the Institute for Government.
“Essential” support for companies and workers in the UK must continue if the economy is to recover from Covid-19 and meet the challenges of leaving the EU customs union and single market, the IMF has...
The UK’s credit rating could be upgraded if a post-Brexit trade deal is agreed with the European Union, according to ratings agency Standard and Poor’s.
Chancellor Rishi Sunak has announced the government is to amend its Job Support Scheme to increase support to businesses affected by reduced trade resulting from Covid-19.
The UK government will need to get record debt in relation to GDP onto a “downward path” once the economy has recovered from Covid-19, according to the OECD.
As much as £26bn paid out under the government-backed Bounce Back Loan Scheme could be lost to fraud or default, according to the National Audit Office.
Chancellor Rishi Sunak signalled that plans for the government to get debt back under control will be pushed into the medium term, following this year’s record borrowing.
The economic disruption caused by Covid-19 and Brexit could complicate the government’s “levelling up” agenda, according to the Institute for Fiscal Studies.
The UK is unlikely to see negative interest rates “imminently”, according to David Ramsden, deputy governor for markets and banking at the Bank of England.
