United Kingdom

Economy News

British public unprepared for BoE rate cut - survey

福利网站Almost none of the British public surveyed by the Bank of England last month expected it would soon need to cut interest rates, a BoE report showed on Friday.

UK corporation tax receipts wane ahead of coronavirus crisis - ONS

福利网站British corporation tax receipts posted their biggest drop for any February since 2012, before the coronavirus outbreak began to seriously harm the economy, official data showed on Friday.

Bank of England ramps up bond-buying, cuts rates to near zero

The Bank of England promised 200 billion pounds of bond purchases and cut its key interest rate to 0.1% in a second emergency move in just over a week to try to mitigate the hit to Britain's economy from the coronavirus outbreak.

UK state to pay workers' wages to stem coronavirus layoffs

Britain's government will pay a massive share of private sector wage bills to discourage bosses from firing staff as it resorts to war-time levels of borrowing to prop up the economy during its coronavirus shutdown.

Britons most pessimistic about economy since 2008 - Ipsos MORI

People in Britain are at their most pessimistic about the outlook for the economy since the 2008 financial crisis because of the coronavirus pandemic, polling firm Ipsos MORI said on Thursday.

UK manufacturers demand immediate help, warning of layoffs

福利网站British manufacturers demanded an immediate deferment of tax and social security payments, warning the government that thousands of layoffs were imminent as the coronavirus crisis hits the economy.

Even before coronavirus, UK employers expected lowest pay rises since 2017

Employers in the United Kingdom expected employees' pay to be subdued in 2020 even before the coronavirus outbreak put British businesses in jeopardy, a survey of private sector employers conducted in January and February showed.

UK should fund 22-billion-pound package to help workers hit by virus - think tank

福利网站Britain's government should spend 22 billion pounds over the coming year to help workers who face unemployment due to the coronavirus, a think tank said on Thursday.

BoE ready for more action as coronavirus threat grows - Bailey

福利网站Bank of England Governor Andrew Bailey said the British central bank is open to further emergency measures as the economic threat posed by the coronavirus has grown since last week when the BoE slashed interest rates.

Coronavirus effects show up in UK financial plumbing

福利网站Banks borrowed the largest amount of six-month sterling funds from the Bank of England on Tuesday since the run-up to the 2016 Brexit referendum, a sign of demand for cash as the coronavirus crisis hammers financial markets.

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