Economic impact of restrictions becoming less severe, says OBR chief
The economic damage of coronavirus restrictions has become less severe as companies and the public are now “better adapted”, MSPs have heard.
Economy
Scottish economy shrank 1.4% in November as Covid restrictions tightened
Scotland’s economy contracted in November, latest estimates indicate, as new nationwide coronavirus restrictions were introduced.
Sunak urges MPs to wait until Budget to learn of next Covid-19 support measures
Rishi Sunak has insisted further economic support is coming in response to Covid-19, although he remained tight-lipped on the detail when challenged by MPs.
Committee condemns ‘lack of transparency’ over failed BiFab yards
MSPs have voiced concern about the “lack of transparency” regarding public cash given to the struggling BiFab yards.
Double-dip recession ‘on cards’ after renewed lockdown sends economy tumbling
A double-dip recession is “on the cards” after the UK’s private sector saw activity plunge this month due to the latest set of lockdown restrictions, according to new data.
China’s economy grows amid Covid-19 recovery
China’s economy grew 2.3% in 2020 as a recovery from the coronavirus pandemic accelerated while the United States, Europe and Japan struggled with disease flare-ups.
UK heads towards double-dip recession as GDP falls 2.6%
The UK economy is on track to head back into recession as official figures showed that it fell in November after the country was hit by stricter coronavirus restrictions.
Covid-19 recovery will take years, business leaders warn
Significant parts of Scotland’s economy will face “worsening conditions” before coronavirus restrictions are eased later this year, business leaders have warned.
Chancellor warns economy will ‘get worse before it gets better’
Rishi Sunak has warned the UK economy will “get worse before it gets better” given the latest lockdown.
‘Substantial’ rise in trading costs after Brexit, Scottish Government claims
Scotland’s Brexit Secretary accused the UK Government of having imposed “extra burdens” on businesses at a time of “unprecedented challenge”.
Take lockdown rules seriously as one in 50 had virus last week, Whitty warns
Coronavirus poses an “extraordinarily high” risk and people must take the stay at home rules seriously, England’s chief medical officer has warned, as new figures suggested one in 50 had Covid-19 last week.
PM ‘had no choice but to impose lockdown as one in 50 had Covid-19 last week’
Boris Johnson has said he had “no choice” but to plunge England into a third national lockdown, as new figures suggested one in 50 people had coronavirus last week.
EU member states consider implications of post-Brexit deal with UK
Ambassadors from the 27 European Union members were being briefed on the contents of the Brexit trade deal on Christmas Day.
Boris Johnson hails ‘new beginning for Britain’ after securing trade deal
Boris Johnson has hailed a historic trade deal struck with the EU as a “new beginning” for Britain that resolves the European question that has “bedevilled” British politics for generations.
Johnson describes Christmas Brexit deal as ‘glad tidings of great joy’
Boris Johnson has used a festive message to the nation to urge people to read the new Brexit trade deal after Christmas lunch on Friday.
UK and European Union reach historic deal on post-Brexit trade
Boris Johnson said a deal reached with the European Union will help protect jobs and provide certainty to businesses.
UK and EU reach agreement on post-Brexit trade deal
A post-Brexit trade deal has been agreed by negotiators from the UK and the European Union after months of talks and frantic last-minute wrangling.
Brexit trade deal expected despite late ‘hitch’ in negotiations
Negotiations on a UK-European Union trade deal are continuing amid widespread expectation an agreement is imminent.
UK-EU Brexit trade deal expected on Christmas Eve
The UK and European Union are on the threshold of striking a post-Brexit trade deal.
Brexit trade deal appears close as deadline for agreement looms
The UK and Brussels appeared close to finally striking a post-Brexit trade deal on Wednesday as speculation mounted that both sides were poised to make an announcement.
EU trade deal ‘possible but far from certain’ on Wednesday – Downing St source
It is “possible but far from certain” that a post-Brexit trade deal could be agreed with Brussels on Wednesday, a Downing Street source has said.
Optimism rises that Brexit trade deal can be reached with European Union
A Cabinet minister has indicated that hopes are rising for a post-Brexit trade deal although major differences still remain between the UK and European Union.
UK-EU talks on post-Brexit trade deal ‘at a crucial moment’ – Barnier
Negotiators are making a “final push” to reach a post-Brexit trade deal, the European Union’s Michel Barnier said.
Johnson and von der Leyen in ‘close contact’ as clock ticks down for UK-EU deal
Boris Johnson is in “close contact” with European Commission president Ursula von der Leyen as time runs out to strike a post-Brexit trade deal.
Barnier to brief EU ambassadors on the state of Brexit talks
Michel Barnier is to update ambassadors from the 27 European Union nations on the state of the negotiations with the UK as time runs out for a deal.
UK debt pile reaches £2.1tn after record November borrowing
Government borrowing surged to a record £31.6 billion in November as efforts ramped up to support the economy through the second wave of the pandemic, official figures have shown.
Scottish economy grew by 16% as lockdown eased in third quarter
Scotland’s economy grew by 16% in the third quarter of this year after coronavirus lockdown measures were eased.
Economy edges back to growth but recovery ‘lacked vigour’, report shows
The UK economy returned to marginal growth this month after the second lockdown ended, but ports disruption hit factories while hospitality firms remain under severe pressure, new figures show.
UK inflation slows on back of cheaper clothing and food
UK inflation slowed down in November as clothing and food prices shrank amid tightened coronavirus restrictions.
Scotland’s economy could take almost three years to recover, think tank warns
A slow rollout of the coronavirus vaccine could mean economic growth in Scotland will not return to pre-pandemic levels for almost three years, according to researchers.