There’s only one way to save the British economy from coronavirus – by changing how it works forever
4 years, 9 months ago

There’s only one way to save the British economy from coronavirus – by changing how it works forever

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. This crisis should make us realise that we’re all connected – that the chief executive relies on the refuse worker, the corporate lawyer on the supermarket worker, and the politician on the nurse. We need a Green Industrial Revolution to rapidly decarbonise our economy, provide energy security and lower bills and create hundreds of thousands of skilled jobs – and, most importantly, to allow us to rebuild after this crisis is over. Third, we should make sure that the enormous action the government will have to take to save businesses during the crisis ultimately helps build a more resilient economy for the future. To secure public benefit and a more resilient economy post crisis, we should take equity stakes in some companies and institutions that receive our support, especially large and strategically important companies and industries.

Way Our Economy Our Society Financial Crisis This Crisis British Economy Works Forever  save  changing  theres  british  economy  security  financial  crisis  coronavirus  means  public  works  forever  support  workers  way  rebuild  universal

History of this topic

The pandemic economy will outlast the outbreak of covid
2 years, 3 months ago

The pandemic economy will outlast the outbreak of covid

Live Mint  

We may be learning to live with covid but as the latest inflation report shows, it’s still a pandemic economy. Two-and-a-half years after the first lockdowns, the economy remains weird: It can take more than a year to a get a dishwasher, many months to get a passport, businesses are short-staffed, stores routinely run out of staples like pain reliever …

Analysis: Has the government done all it can to help us ‘live with the virus’?
3 years, 6 months ago

Analysis: Has the government done all it can to help us ‘live with the virus’?

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, …

Long or short Covid? The true state of the UK economy
3 years, 10 months ago

Long or short Covid? The true state of the UK economy

The Independent  

Long Covid describes the symptoms of people who have been infected by the coronavirus, survived it, and yet who just can’t seem to return to normal health. If one uses measures which ignore quality adjustments, the UK’s economic performance looks closer to other G7 countries, although it remains very possible that less hesitation from ministers last year in imposing restrictions …

UK economy just had its worst year in three centuries
3 years, 10 months ago

UK economy just had its worst year in three centuries

CNN  

London CNN Business — The UK economy suffered its biggest slump in more than three centuries last year, with GDP falling by nearly 10% over the course of 2020. “Today’s figures show that the economy has experienced a serious shock as a result of the pandemic, which has been felt by countries around the world,” UK finance minister Rishi Sunak …

UK economy could be 6% smaller than forecast due to tighter Covid restrictions
4 years ago

UK economy could be 6% smaller than forecast due to tighter Covid restrictions

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy could be 6 per cent smaller if …

Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago

Economic impact of coronavirus will hit next year, experts say

Dutch News  

Despite the slight drop in the unemployment rate this week, and signs of a speedier economic recovery from the coronavirus crisis, the big hit will be felt in the second quarter of next year, according to experts. In total, 102 banking, legal and investment experts took part in a survey on the likely impact of the crisis carried out by …

The choice between tackling the virus or protecting our economy is false. Ministers must do both
4 years, 2 months ago

The choice between tackling the virus or protecting our economy is false. Ministers must do both

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy It’s unusual …

‘Only a crisis produces real change.’ What will coronavirus bring?
4 years, 2 months ago

‘Only a crisis produces real change.’ What will coronavirus bring?

The Independent  

There is no magic money tree,” former prime minister Theresa May smugly proclaimed in her 2017 election campaign. The prospect of reconsidering the global distribution of wealth has suddenly shifted from former US president Barack Obama’s “hope” to his “yes we can” attitude. Even Donald Trump’s “make America great again” mantra is largely focused on the economy, with GDP being …

Coronavirus tests for UK arrivals instead of quarantine could massively help the travel sector
4 years, 2 months ago

Coronavirus tests for UK arrivals instead of quarantine could massively help the travel sector

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Throughout the coronavirus pandemic, the government’s …

The travel industry won't survive the coronavirus pandemic without a radical change of direction
4 years, 4 months ago

The travel industry won't survive the coronavirus pandemic without a radical change of direction

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The complete global shutdown of the …

British economy nosedives 20% in worst coronavirus-induced recession among Group of 7
4 years, 4 months ago

British economy nosedives 20% in worst coronavirus-induced recession among Group of 7

LA Times  

Britain has suffered the deepest recession among the world’s top economies this year, shrinking by a fifth in the second quarter alone when much of the economy was mothballed as part of efforts to contain the COVID-19 pandemic. Canada and Japan, the remaining members of the Group of Seven leading industrial nations, have yet to publish their second-quarter numbers, but …

Summertime sadness: Resurgent coronavirus dims economic recovery hopes
4 years, 5 months ago

Summertime sadness: Resurgent coronavirus dims economic recovery hopes

Live Mint  

The virus is the summer house guest from hell. If you add that all up together it’s not a pretty picture.” At the same time, as governments face new flare-ups and reimpose full or partial lockdowns, the prospects for a brisk global economic rebound later in the year have dimmed, according to economists and executives. While the virus-stricken world is …

Victoria's coronavirus lockdown won't help an economy that's being held hostage by a pandemic
4 years, 6 months ago

Victoria's coronavirus lockdown won't help an economy that's being held hostage by a pandemic

ABC  

The fate of the economy, at least as far as the eye can see, has been resting on how well the authorities can control the spread of coronavirus. He says the current unemployment rate is actually more like 11.5 per cent, despite Australian Bureau of Statistics figures showing the "headline" rate is a fraction over 7 per cent. "I think …

Opinion | A long-term strategy to steer the economy out of this crisis
4 years, 6 months ago

Opinion | A long-term strategy to steer the economy out of this crisis

Live Mint  

As an entrepreneur and then as a member of Parliament, I have seen my share of economic shocks—the 2001 tech bubble burst and then the 2008 global financial crisis. Rapid growth is the only answer to the question of India’s debt sustainability and Prime Minister Narendra Modi’s Aatmanirbhar Bharat vision of a self-reliant economy that is also globally competitive and …

The coronavirus recession is like no other — and it risks becoming a chronic problem
4 years, 7 months ago

The coronavirus recession is like no other — and it risks becoming a chronic problem

ABC  

Forget what you know about recessions, this one is very different — and it may be chronic. That's not to say we're about to experience years of economic contraction or "negative growth" as economists like to say, but it's going to remain tough going for many Australians for years. This is the combination of two overbearing forces: an economy built …

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank
4 years, 7 months ago

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank

ABP News  

New Delhi: The World Bank has said that the Coronavirus pandemic and strict lockdown measures taken to contain its transmission will leave a lasting effect on the global economy particularly the emerging market and developing economies, in its analysis of the situation. World Bank Group President David Malpass emphasised the need for comprehensive policies and indicated that 60 million people …

Govt measures to deal with coronavirus impact 'very positive', says former RBI governor Bimal Jalan
4 years, 7 months ago

Govt measures to deal with coronavirus impact 'very positive', says former RBI governor Bimal Jalan

Firstpost  

Former Reserve Bank Governor Bimal Jalan on Thursday described the initiatives taken by the government to mitigate the impact of COVID-19 as “very positive” and hoped that these would help in containing the decline in growth New Delhi: Former Reserve Bank Governor Bimal Jalan on Thursday described the initiatives taken by the government to mitigate the impact of COVID-19 as …

Coronavirus: British Council future in jeopardy due to severe impact of pandemic on finances, major union warns
4 years, 7 months ago

Coronavirus: British Council future in jeopardy due to severe impact of pandemic on finances, major union warns

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A major union has warned the British Council’s future is in …

US economy won’t recover fully until there’s a coronavirus vaccine, says Federal Reserve chairman
4 years, 7 months ago

US economy won’t recover fully until there’s a coronavirus vaccine, says Federal Reserve chairman

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The chairman of the …

UK facing significant recession due to coronavirus pandemic, says Rishi Sunak
4 years, 7 months ago

UK facing significant recession due to coronavirus pandemic, says Rishi Sunak

India TV News  

The UK faces a "significant recession", Chancellor of the Exchequer Rishi Sunak has warned after figures showed the country's economy shrank by 2 per cent in the first three months of the year due to the impact of the coronavirus-induced economic lockdown. The UK’s Indian-origin finance minister, who is at the forefront of the economic response to the coronavirus pandemic …

British economy shrinks 2% as coronavirus pandemic continues to wreak havoc in UK
4 years, 7 months ago

British economy shrinks 2% as coronavirus pandemic continues to wreak havoc in UK

India TV News  

Official figures show that the British economy shrank 2% in the first quarter of the year from the previous three-month period as restrictions on economic activity were ramped up ahead of the coronavirus lockdown towards the end of March. The decline is the biggest since the global financial crisis in 2008 and is the first indication of the coronavirus' growing …

Coronavirus turns UK into a nation of savers
4 years, 7 months ago

Coronavirus turns UK into a nation of savers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. And the specific triggers have been surprisingly abstract, says …

Boris Johnson Outlines Plan To Ease Coronavirus Restrictions In England
4 years, 7 months ago

Boris Johnson Outlines Plan To Ease Coronavirus Restrictions In England

NPR  

Boris Johnson Outlines Plan To Ease Coronavirus Restrictions In England Enlarge this image toggle caption Andrew Parsons/AP Andrew Parsons/AP Prime Minister Boris Johnson outlined plans Sunday for a phased reopening of Britain's economy, citing decreasing coronavirus hospitalizations and deaths, and asked anyone who cannot perform their jobs from home, such as construction and factory workers, to return to work. Johnson …

UK economy heading for worst crash in 300 years due to coronavirus
4 years, 8 months ago

UK economy heading for worst crash in 300 years due to coronavirus

CNN  

London CNN Business — The UK economy is heading for its worst crash in more than 300 years because of the coronavirus pandemic, according to a new forecast from the Bank of England. The central bank expects a swift economic recovery in 2021, but it cautioned that its forecast, which assumes a gradual easing of social distancing measures and “very …

Coronavirus pandemic exposes fatal flaws of the 'just-in-time' economy
4 years, 8 months ago

Coronavirus pandemic exposes fatal flaws of the 'just-in-time' economy

ABC  

The COVID-19 pandemic has exposed some of the downsides of the "just-in-time" economy — a defining feature of capitalism during the past three to four decades. Just-in-time workforce There's less attention from these MPs to the "just-in-time workforce" — which the economic fallout of the virus has exposed as another vulnerability. Casualisation, labour hire, self-employment in the so-called "gig economy" …

Opinion | Reforms can resist future shocks
4 years, 8 months ago

Opinion | Reforms can resist future shocks

Live Mint  

One thing that has been really missing in our global response to the coronavirus pandemic is any sense of international cooperation. Are the 2008-09 global financial crisis and this global pandemic once-in-a-lifetime or once-in-a-century events, or will we see a major crisis every 10 years or so? It seems as if countries across the world are saying, “Whatever it takes!” …

After coronavirus, let’s choose carefully which sectors we want to regrow – and which to let go of
4 years, 8 months ago

After coronavirus, let’s choose carefully which sectors we want to regrow – and which to let go of

The Independent  

As the government announced that lockdown restrictions would continue for at least another three weeks, the Office of Budget Responsibility, the Treasury’s official forecaster, made a bleak prediction. The explosion of mutual aid groups and public demonstrations of support for key workers emphasises this reorientation of our collective priorities away from consumption for consumption’s sake, and towards caring, green and …

Britain faces biggest economic shock in 300 years if coronavirus lockdown extends to summer
4 years, 8 months ago

Britain faces biggest economic shock in 300 years if coronavirus lockdown extends to summer

The Telegraph  

Britain will suffer its deepest recession for 300 years if the coronavirus lockdown continues into the summer, according to the budget watchdog, as the Chancellor warned of “tough times” to come. The Office for Budget Responsibility said the economy could shrink by 35 per cent this spring, with unemployment soaring by two million to its highest level since the nineties. …

Australia unlikely to experience 'post-war' recovery after coronavirus
4 years, 8 months ago

Australia unlikely to experience 'post-war' recovery after coronavirus

ABC  

So far, so good. According to research by consultancy firm AlphaBeta — run by Andrew Charlton, Kevin Rudd's adviser through the global financial crisis — the stimulus program has already arrested the alarming decline in discretionary spending that rocked the economy during the last week of March. Spending per person plummeted an incredible 13 per cent below normal levels in …

The UK will lead the global coronavirus response to end this pandemic sooner
4 years, 8 months ago

The UK will lead the global coronavirus response to end this pandemic sooner

The Independent  

As we applaud our NHS heroes at 8pm every Thursday, I am proud to see our country pull together like never before in my lifetime. We can’t end this global pandemic or prevent even more deaths, including in the UK, if we don’t help those countries respond to the virus and its impacts. £130m of this support will go towards …

Alien Nation: After coronavirus, the UK’s former colonies won’t need us
4 years, 9 months ago

Alien Nation: After coronavirus, the UK’s former colonies won’t need us

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Discussions about Britain’s place in the …

Coronavirus demands quick action, but the ACT Government will be dealing with the fallout for years
4 years, 9 months ago

Coronavirus demands quick action, but the ACT Government will be dealing with the fallout for years

ABC  

After a fortnight of sensational spending by governments at all levels, it feels a bit like numbers have lost all meaning. A fortnight ago, one of the World Health Organisation's top officials urged governments responding to coronavirus to "be fast … have no regrets". And the Real Estate Institute of the ACT expressed its concerns over the rent relief measures, …

After coronavirus passes, nothing will be the same — and that might not be a bad thing
4 years, 9 months ago

After coronavirus passes, nothing will be the same — and that might not be a bad thing

ABC  

The daily shockwaves hitting us in the time of the coronavirus can mean the extraordinary nature of individual changes can be lost. Never was this more true than this week when the Morrison Government announced, first, an extraordinary $130 billion wage subsidy, then, a few days later, free childcare. The extent to which the economic crisis — and the necessary …

Coronanomics: Eight things we've learnt about how coronavirus will change the economy
4 years, 9 months ago

Coronanomics: Eight things we've learnt about how coronavirus will change the economy

ABC  

This is the biggest global health pandemic in just over a century — since the Spanish flu outbreak of 1918, just after the World War 1. Treasurer Josh Frydenberg has already announced sweeping changes to Australia's Foreign Investment Review Board guidelines that will mean all foreign direct investment bids will be scrutinised with the threshold abolished. Now the Federal Government …

What to make of the US’s $2 trillion coronavirus bailout
4 years, 9 months ago

What to make of the US’s $2 trillion coronavirus bailout

Al Jazeera  

In spite of the negatives and the risks, the stimulus package represents a real political and philosophical change. On Wednesday, the United States Senate overwhelmingly approved a $2 trillion rescue bill to address the effects of the coronavirus pandemic on the economy. When he was asked who would watch where the money went, Trump said, “I’ll be the oversight.” The …

I led Britain’s response to the Ebola outbreak and this is what it taught me about business in a crisis
4 years, 9 months ago

I led Britain’s response to the Ebola outbreak and this is what it taught me about business in a crisis

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. So the national effort to tackle …

Stay at home: Britain imposes lockdown to combat spread of coronavirus
4 years, 9 months ago

Stay at home: Britain imposes lockdown to combat spread of coronavirus

India Today  

Britain has become the latest European country to go into effective lockdown to deal with the threat of the coronavirus pandemic, after Prime Minister Boris Johnson announced Monday sweeping curbs on everyday activity including the banning of any gatherings of more than two people who do not live together. As well as instructing the public to "stay at home" for …

Could the coronavirus crisis help tackle income inequality?
4 years, 9 months ago

Could the coronavirus crisis help tackle income inequality?

Al Jazeera  

A crisis brings pain but also opportunities to push through reforms to make the economy start working for more people. But profound upheavals like the one we are experiencing now also create unprecedented opportunities to remedy distortions in the eco-economic system – imbalances that have fuelled rising wealth and income inequality. Meanwhile, up on Capitol Hill, US lawmakers passed a …

Coronavirus deals a death blow to U.S. economic expansion
4 years, 9 months ago

Coronavirus deals a death blow to U.S. economic expansion

The Hindu  

No one knows how long it will last or how much it will hurt. But the U.S. economy is either sliding into a recession for the first time since 2009 or is already in one — a sudden victim of the coronavirus outbreak. The vast changes deemed necessary to defeat the virus — people and companies no longer engaging with …

Coronavirus must make Boris Johnson wake up – real people, not abstract ‘growth’, must be our economic priority
4 years, 9 months ago

Coronavirus must make Boris Johnson wake up – real people, not abstract ‘growth’, must be our economic priority

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The stimulus announced by the government …

The science behind the big shift in the UK's coronavirus strategy
4 years, 9 months ago

The science behind the big shift in the UK's coronavirus strategy

Wired  

Getty Images / Bloomberg / Contributor Late on Monday afternoon, Boris Johnson announced a series of far-reaching recommendations that signaled a dramatic ratcheting up of the UK’s coronavirus response. The first strategy – which the report calls mitigation – involves isolating suspected cases, quarantining households with suspected cases and socially distancing those most vulnerable for around three months at the …

UK interest rates cut to tackle coronavirus threat to economy
4 years, 9 months ago

UK interest rates cut to tackle coronavirus threat to economy

CNN  

London CNN Business — The Bank of England has slashed interest rates to a record low and launched other emergency measures as part of a dramatic and coordinated UK response to limit the economic fallout from the coronavirus. The central bank said in a statement Wednesday that while the magnitude of the shock from the coronavirus remains “highly uncertain,” economic …

Who will save the world from a coronavirus recession?
4 years, 10 months ago

Who will save the world from a coronavirus recession?

Al Jazeera  

Why a shock US central bank rate cut may not be enough to save the global economy from the coronavirus outbreak. Growth could halve this year to 1.5 percent, the OECD warned in its worst-case scenario for the outbreak, a growth rate generally considered to indicate a recession. Rajiv Biswaz, executive director and Asia-Pacific Chief Economist at IHS Markit, adds …

RBA interest rate cuts won't save the economy from coronavirus, but there are policies that may
4 years, 10 months ago

RBA interest rate cuts won't save the economy from coronavirus, but there are policies that may

ABC  

An interest rate cut might be a bonus for homeowners with mortgages and give share investors a temporary sugar hit, but it's not going to do much to save the economy from coronavirus. Rate cuts can't stop coronavirus disruptions If a rate cut won't do much to help with the demand shock, it'll do virtually nothing to ameliorate the supply …

How the coronavirus could spark a severe slowdown or recession in America
4 years, 10 months ago

How the coronavirus could spark a severe slowdown or recession in America

CNN  

New York CNN Business — The longest economic expansion in American history has survived an unprecedented trade war, a catastrophic tsunami in Japan and a severe crash in oil prices. If the American consumer loses faith, and the coronavirus will be a real test of faith, then a recession is going to happen.” Mark Zandi, chief economist at Moody's Analytics …

Coronavirus crisis to hurt global economy
4 years, 10 months ago

Coronavirus crisis to hurt global economy

India Today  

With coronavirus declared a global emergency, the entire world is going to feel the impact of the massive outbreak that has claimed many lives and infected over 48,000 people in China alone, according to the latest official release. India's Minister of Health, Dr. Harshavardhan, in a press briefing said, "We had declared the novel coronavirus as a health emergency on …

The coronavirus is already hurting the world economy. Here’s why it could get really scary
4 years, 11 months ago

The coronavirus is already hurting the world economy. Here’s why it could get really scary

CNN  

London CNN Business — Nearly two decades have passed since a coronavirus known as SARS emerged in China, killing hundreds of people and sparking panic that sent a chill through the global economy. Car plants across China have been ordered to remain closed following the Lunar New Year holiday, preventing global automakers Volkswagen, Toyota, Daimler, General Motors, Renault, Honda and …

Coronavirus hasn’t devastated the global economy yet – but it could if it’s not contained soon
4 years, 11 months ago

Coronavirus hasn’t devastated the global economy yet – but it could if it’s not contained soon

The Independent  

How grave is the likely impact of coronavirus on the world economy? The loss in Hong Kong was equivalent to 2.6 per cent of GDP; in the rest of China a little over 1 per cent. In 2003, its GDP was some $1.6 trillion, a bit bigger than Italy but smaller than France or the UK, accounting for about 3 …

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