Chancellor outlines new COVID support

@peter_IFAMAG reads Twitter so you don’t have to.

Rishi Sunak outlines more help for ‘open but struggling businesses.’ Cash grants for tier 2 businesses, further subsidies through the Job Support Scheme, and more help for the self employed. Elsewhere today; new data on the mounting debt of Europe and the UK.

Chris Giles shares unorthodox modelling of the UK deficit.

I know it's wrong to care much about deficits in a pandemic…

… but the UK's is historically large at the moment

(This is an odd presentation – 6-monht rolling sum, but I think it's the most realistic) pic.twitter.com/Hhd4nCQFrG

— Chris Giles (@ChrisGiles_) October 21, 2020

Bloomberg visualises Eurozone debt.

A surge in borrowing and an unprecedented slump in economic output has expanded debt-to-GDP ratios across the euro area https://t.co/ohYdslK78Q pic.twitter.com/1YahqMOjOL

— Bloomberg Markets (@markets) October 22, 2020

Michael Blair reminds his followers Sunak’s spring budget only allocated £12bn for COVID relief.

https://twitter.com/MichaelBlairTV/status/1319215614712553472

OBR publishes Bank of England debt purchases.

One for @stevebakerhw and @marcusrashford

The OBR just published this chart showing that the extraordinary funds raised by the DMO – £262 billion.

The Bank of England has purchased £246 billion of such debts in the same timeframe. pic.twitter.com/oc5OcD9IyW

— Faisal Islam (@faisalislam) October 21, 2020

And finally, Chancellor outlines more help to combat economic tempest from the second wave of COVID.

Chancellor outlines more help for "open but struggling" businesses including: 1) Cash grants of up to £2,100 a month for Tier 2 businesses via local authorities. Grants can be backdated to August.

— James Hurley (@jameshurley) October 22, 2020

What are your thoughts on these tweets?

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