@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.
A reminder that back in March @EdConwaySky highlighted the govt was setting aside £12bn in its budget to tackle COVID. That's the amount they ended up spending on test and trace alone😬 pic.twitter.com/CWuOByECW0
— Michael Blair (@MichaelBlairTV) October 22, 2020
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
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