Month: September 2020

Covid: Public spending rise could last longer

Image copyright Getty Images The government must choose this autumn between more austerity and permanently higher spending, experts warn. Although the Autumn Budget has been cancelled, the Treasury is still set to publish a Spending Review containing government expenditure plans. Because of Covid-19, public spending is likely to rise to the highest share of national income in more than a… Read more →

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Bank deputy governor warns against negative interest rates

Image copyright Getty Images A Bank of England (BoE) deputy governor has spoken out against setting negative interest rates, which would bring the cost of borrowing below zero. “At present, negative policy rates would be less effective as a tool to stimulate the economy,” Sir Dave Ramsden told the Society of Professional Economists (SPE). The Bank has so far responded… Read more →

Island economy “scarred” by Covid-19 restrictions

Related Topics Coronavirus pandemic image copyrightGetty Images image captionSocial distancing has limited capacity to about 20% on some ferry services to and from Arran The loss of visitors and reduced ferry capacity to Arran during the Covid pandemic could have “long-term scarring effects” on the island’s labour market. A new study has highlighted a third of Arran’s economy is reliant… Read more →

Brexit lorry park request for Anglesey county showground rejected

Image copyright Getty Images A request to allow Anglesey’s county showground to be used to host a post-Brexit lorry facility has been rejected by council leaders on the island. Land is needed for a potential customs check on HGVs arriving from the Republic of Ireland in Holyhead. But the council’s executive rejected the bid by the Anglesey Agricultural Society to… Read more →

Asda: UK billionaire brothers edge ahead in race to buy supermarket

Image copyright Getty Images Asda could return to UK ownership for the first time in 20 years after a group comprising the billionaire Issa brothers and TDR Capital emerged as frontrunners to buy the supermarket. It is understood the Blackburn-based brothers and the private equity firm have been named as preferred bidders. Asda has been owned by US giant Walmart… Read more →

US squeezes China’s biggest chip-maker SMIC

By Leo KelionTechnology desk editor image copyrightSMIC/Getty Images The US Department of Commerce has written to American suppliers of China’s biggest chip manufacturer, warning them of “unprecedented risks” that their products could be used by the Chinese military. The letter reminds the firms they must apply for licences to ship controlled items to Shanghai-based SMIC. But it does not appear… Read more →

Wales lockdown: Businesses affected by Covid offered grants

Image copyright Getty Images Image caption Cafes and bars are particularly feeling the strain of having fewer customers Businesses in Wales will be offered £140m in grants, Economy Minister Ken Skates has said. Nearly two-thirds of Wales’ population will be under lockdown when new restrictions are imposed at 18:00 BST. Neath Port Talbot (NPT), Torfaen and Vale of Glamorgan will… Read more →

Coronavirus: NI social enterprise fund opens for applications

Image copyright Gareth Fuller/PA Wire Image caption Grants of up to £75,000 will be available through the scheme A £7m Covid-19 fund for social enterprises has opened for applications. Social enterprises are businesses which reinvest their profits for a social purpose. The Department for Communities invested in the fund, which will be accepting applications for four weeks. The primary intention… Read more →