Tag: faces

Coronavirus: NI faces ‘deep and prolonged economic downturn’

Image caption Last week, Bombardier Aerospace announced it is cutting 600 jobs at its Northern Ireland operations. Northern Ireland faces rising unemployment, sharply reduced foreign investment and Brexit complications, the economy minister has warned. The sobering assessment is contained in an economic recovery plan published by Diane Dodds. The plan is intended to tackle the challenges of the next 18… Read more →

Fed warns US faces ‘long road’ to recovery

Image copyright Getty Images The head of America’s central bank has pledged to continue support for the US economy for “as long as it takes”. Warning that the US faces a “long road” to recovery, Federal Reserve Chair Jerome Powell said the bank would keep interest rates near zero for the foreseeable future. A policymaker forecast released by the Fed… Read more →

Coronavirus: Government faces WW2-sized bill for tackling virus

Image copyright Getty Images The cost of the government’s efforts to combat the coronavirus pandemic has risen to £123.2bn, according to latest estimates from the government’s independent economics forecaster. The Office for Budget Responsibility’s previous estimate was £103.7bn. The increased cost of the government’s furlough scheme is the main cause. It now expects annual borrowing to equal 15.2% of the… Read more →