UK economy still shrinking but the pace of decline eases: PMI
Britain’s economy remained in a severe downturn in May although the pace of the slump moderated from April’s crash and some companies benefited from the easing of coronavirus lockdowns around the world, a survey showed on Wednesday. Read the article on Reuters
Coronavirus: Ex-chancellors warn of severe unemployment ahead
UK shops slash prices as coronavirus causes sales to plummet
Deepest monthly price cuts for 15 years as desperate retailers try to encourage consumer spending. British retailers struggling during the coronavirus pandemic have cut their prices by the most in a month since 2006, according to industry figures revealing the scale of the economic fallout. Read the full article on The Guardian
Coronavirus loans: George Osborne calls for future government 'debt forgiveness' programme
The government should implement a future “debt forgiveness” programme for companies borrowing through its coronavirus loan schemes, according to former chancellor George Osborne. Osborne said small and micro-businesses “who are engines of growth” should have their debts written off in several years’ time if they are still carrying debt burdens from the government’s emergency schemes. Read the article on City A.M.
Pandemic is chance to reset global economy, says Prince Charles
The Prince of Wales has unveiled a five-point plan to stimulate sustainable economic growth. The recovery from the coronavirus crisis represents an opportunity to reset the global economy and prioritise sustainable development without further damaging the planet, Prince Charles said at the opening of a World Economic Forum (WEF) virtual meeting. Read the article on The Guardian
