Coronavirus

Unemployment rate rises to 4.1% in July

The rate of unemployment in the UK increased 0.2% to 4.1% in the two months to July 2020, according to the ONS. The UK economic inactivity rate was also estimated at a joint record low of 20.2%, 0.6 percentage points lower than the previous year and 0.3 percentage points lower…

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700,000 jobs at risk as end of furlough scheme draws near

Over 700,000 employees are at risk of being made redundant in the second half of 2020, research from Institute for Employment Studies (IES) has revealed. IES estimates that some 650 thousand redundancies are expected in the second half of 2020, with 445 thousand redundancies in the three months between July…

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Insolvent companies cost taxpayers £250m 

Insolvent companies that were unable to pay their debts in the first six months of 2020 have cost British taxpayers almost £250m, according to Altus Group.  The software group found that the amount paid to former members of staff was up by £133.79m in the period against the prior year,…

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Businesses hit by local lockdowns to receive grants

Businesses in England that are required to shut due to local lockdowns will now be able to claim up to £1,500 per property every three weeks, the Government has announced. Chief secretary to the Treasury, Steve Barclay, announced the new funding plan yesterday (10 September) as part of ongoing efforts…

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125,500 retail jobs lost since start of 2020

Some 125,515 retail jobs have been lost since the start of 2020, according to the latest data from the Centre for Retail Research (CRR). Of this figure, 43,381 jobs were lost through administrations, 10,556 through CVAs and 71,578 through rationalisation schemes. The UK’s embattled high street has also seen the…

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PetQuip welcomes support measures for UK trade

PetQuip has welcomed a series of new government measures to help boost exports as UK businesses look to recover from the pandemic. The measures were announced yesterday (8 September) by exports minister, Graham Stuart MP, and are set to offer immediate support to companies by ensuring specialists provide advice on…

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Up to £3.5bn furlough claims fraudulent, says HMRC

Up to £3.5bn in payments from the Coronavirus Job Retention Scheme may have been claimed fraudulently or paid in error, according to the HMRC. Jim Harra, HMRC’s permanent secretary, appeared before MPs on the Public Accounts Committee to discuss the tax authority’s estimates that 5-10% of furlough claims have been…

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Redundancies planned by 60% of mid-sized firms

More than half (60%) of the UK’s medium-sized businesses are planning redundancies as a result of the Government’s Coronavirus Job Retention Scheme coming to an end in October, according to new research from accountancy and business advisory firm, BDO. BDO’s monthly Rethinking the Economy survey of 500 medium-sized businesses across…

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UK footfall accelerates fourfold 

Footfall in UK retail destinations rose by 4.1% last week against the week before, marking a “significant” acceleration in the prior week’s rise of 0.8%, and 1.8% rise in the same week last year.   According to the latest data from Springboard, this was largely driven by rises in footfall of…

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PDSA highlights ‘endless isolation and loneliness’ in rabbits

Hundreds of thousands of rabbits face a lifetime of endless isolation and loneliness, says veterinary charity PDSA. Despite being incredibly social animals, PDSA’s PAW Report found that half (49%) of all UK rabbits live alone (equating to around 440,000 rabbits) and a quarter (25%, around 230,000 rabbits) are kept in…

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