Economy
The latest news, updates and analysis on the economy and how it is affecting the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Mar- 2020 -30 March
UK GDP expected to contract by 15% in Q2 2020
The UK economy is about to enter the deepest recession since the financial crisis, including the steepest quarter-on-quarter decline in…
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24 March
Covid-19 brings UK economy to temporary standstill, says KPMG
The impact of the Covid-19 virus is expected to see the UK economy contract by 2.6% in 2020, according to…
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23 March
FCA asks companies to delay preliminary financial accounts
The Financial Conduct Authority (FCA) has requested companies which were due to issue its preliminary trading updates in the next…
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19 March
New bank of England boss promises fresh measures to fight Covid-19
The new Bank of England boss, Andrew Bailey, has promised a fresh set of measures to help fight the economic…
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18 March
Retail welcomes ‘bold move’ from chancellor to support business
The retail industry has welcomed the “bold move” announced by the chancellor yesterday (17 March), which included announcing a 12-month…
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13 March
Government to introduce 2% digital services tax
The UK Government has confirmed plans to introduce a new 2% tax on the revenues of online marketplaces which “derive…
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11 March
ROUNDUP: Business rates holiday announced by chancellor Sunak
In his maiden budget, the new chancellor, Rishi Sunak, has announced a £30bn fiscal stimulus package to help combat the…
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11 March
Bank of England cuts interest rates to help combat coronavirus impact
The Bank of England has cut UK interest rates back down to the lowest level in history to help mitigate…
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Feb- 2020 -19 February
Revo calls on Government to ‘make good’ on review of business rates system
Revo, which supports businesses in the retail property and placemaking sector, has called on the UK Government to “make good”…
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18 February
Consumer confidence reaches record-high in February
The IHS Markit Household Finance Index reached a record-high of 47.6 in February, up from 44.6 last month. IHS Markit,…
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