Criticism of companies that have chosen to remain open during coronavirus blocking has been fueled by people who “hate the private sector,” the minister said.
Conservative minister Nadhim Zahawi expressed support for companies that continue to trade, calling for minimizing damage to the UK economy and ignoring “unfair criticism” of bosses.
He wrote in The Daily telegram today: ‘These are difficult times for companies, just like for all of us.
Conservative minister Nadhim Zahawi (center photo) showed his support for companies that continue to trade
“We cannot allow those who hate the private sector to use this crisis as an excuse to collect unfair criticism of them.”
Ocado purchases 100,000 covid-19 tests for personnel
While Ocado continues to offer an essential food delivery service, it has said it wants to “protect staff and the public” by regularly testing all of its staff for Covid-19.
The company paid £ 1.5 million for the tests, The Guardian reports. They are waiting for 60,000 of the 100,000 ordered.
Ocado would not reveal from whom he bought the tests. Meanwhile, many frontline doctors and nurses have gone without tests.
The food delivery service is currently experiencing ten times the usual question, with chairman Stuart Rose telling the audience “no one will starve,” reports The Guardian.
Add: “No matter how hard we work, we don’t have enough capacity to meet this unprecedented demand.”
Add: “We still need houses and deliveries.”
Zahawi emphasized that companies that do not fall into the categories that Boris Johnson has closed have every right to remain open.
Many takeout companies have chosen to close their doors due to public pressure, despite government guidelines that allow them to remain open.
Businesses that have closed include McDonalds, Greggs, Starbucks, and Costa.
Zahawi calls for the construction work to continue during the closure of the corona virus.
While others, including London Mayor Sadiq Khan, believe that construction workers should be sent home – a discussion that has reportedly sparked number 10 arguing this week.
Zahawi stated that the government’s social distance rules tell people to go to work when they cannot work at home.
Workers on the construction site at Hanover Square in central London, while the construction sites remain in operation
Zahawi stated that the government’s social distance rules tell people to go to work when they cannot work at home. Construction will continue in Barking, London, March 25
The UK economy will shrink by 15 percent between April and June – the strongest contraction ever, experts warn
- The UK is entering the deepest recession since the financial crisis, experts warn
- Rescue measures can lead to government bonds shooting up to £ 180 billion
- Michael Gove hinted yesterday that a new era of austerity is on the way
Through Lucy White For The Daily Mail
The UK economy will shrink by 15 percent between April and June in the strongest contraction ever, experts predicted.
As corporate shutdowns take their toll, the UK will enter the deepest recession since the financial crisis, they warn today.
The Center for Economics and Business Research (CEBR) predictions come after Michael Gove hinted yesterday that a new era of austerity is on the way, as the government will have to repair the huge hole the virus crisis has left in its finances.
During the BBC’s BBC show Andrew Marr, Gove emphasized that the British coronavirus response package was “one of the most generous in the world” but hinted at austerity
The Treasury has announced a series of unprecedented rescue packages to mitigate the damage to the economy, including paying 80 percent of the wages for workers who are unable to work and securing bank loans to small businesses.
Mr Gove, the Chancellor of the Duchy of Lancaster, said that it was right to compel the financially damaging closure of British society, since it is not possible to “put a price on lives.”
But experts believe the rescue measures could lead government debt to shoot up to £ 180 billion in the current fiscal year, or 7 percent of the UK’s economic output.
Even after helping Chancellor Rishi Sunak help, CEBR expects the UK unemployment rate to rise to 7 percent in July through August
If added to existing government debt, the UK would have a debt stock equal to the size of its economy next year. Even after helping Chancellor Rishi Sunak help businesses, CEBR expects unemployment in the UK to rise to 7 percent in July to August, from 3.9 percent in the three months to January, as workers are laid off and companies cost save. A 15 percent contraction in the economy between March and June would be the biggest quarter-on-quarter slowdown since current records started in 1997.
The previous quarterly record was set in the last three months of 2008, in the midst of the financial crisis, when the economy contracted by 2.2 percent.
CEBR also expects house prices to fall by an average of 13 percent in the year to March. Boris Johnson has urged home buyers and sellers to suspend delivery dates until the blockage is over.
Boris Johnson isolates himself after revealing that he contracted covid-19 as the virus continues to spread
However, most economists expect the UK to recover soon after the closure.
The Bank of England said the Covid-19 pandemic would cause an “economic shock that could turn out to be sharp and big, but should be temporary.”
And the CEBR thinks that the measures taken by the Chancellor, including VAT reductions and incentives to encourage companies to invest, “will lead to a strong rebound in the third and fourth quarters of the year.” Overall, the economy will shrink by 4 percent throughout 2020, he estimates.
During the BBC’s BBC show Andrew Marr, Gove emphasized that the British coronavirus response package was “one of the most generous in the world.”
“That will increase the amount we borrow, but the Chancellor and the Treasury’s economic team are confident that we will be able to repay it in due course,” he said. “But how do you ultimately determine life?”
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