Best of British

2 November 2020 By Swaha Pattanaik Follow @swahapattanaik

Finance minister Rishi Sunak will spend more to soften the impact of a new lockdown and the Bank of England is likely to loosen policy again. It won’t stop insolvencies or economic scarring. Retraining workers of all ages and encouraging productivity-boosting investment is vital.

This content is for Subscribers only

Subjects

Regions

Context News

British Prime Minister Boris Johnson on Oct. 31 ordered England back into a national lockdown. Lawmakers are expected to vote on Nov. 4 on the proposals, which would see a one-month lockdown across England kick in after midnight on Nov. 5 and last until Dec. 2.

The government will extend its emergency coronavirus wage subsidy scheme by a month to ensure workers who are temporarily laid off during the new England-wide lockdown receive 80% of their pay. Also, the finance ministry said on Oct. 31 that a mortgage payment holiday scheme would be extended for households while business premises which are required to close because of coronavirus restrictions would get grants of up to 3,000 pounds a month.

Email a friend

Please complete the form below.

Required fields *