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Chancellor announces ‘plan for jobs’

Chancellor Rishi Sunak has announced a raft of new measures to stimulate the UK economy in the wake of the coronavirus crisis.

A headline measure was a new grant scheme to encourage employers to keep on staff they've brought back from furlough.

Firms will be rewarded with £1,000 for each previously furloughed staff member still employed in January 2021.

A separate ‘...

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Economic update 2020: expectations

Chancellor Rishi Sunak will deliver an economic update to the House of Commons this afternoon.

The Treasury has played down this being a ‘July Budget' or a ‘mini-Budget', insisting no economic forecasts or tax decisions will be issued.

Those are all on hold until what looks like a whopper of an Autumn Budget and subsequent spending review.

Whatever Sunak's speech is called...

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Exporters feel upturn in international trade

Most exporters are optimistic about international trade getting back to normal in the coming months, a report has claimed.

Research from the Institute of Directors (IoD) showed 63% of exporters expect the situation to improve as overseas lockdowns ease.

A further 13% of UK exporters said trade is already improving, with an upturn in imports boosting domestic supply chains in the...

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Workers in crisis-hit sectors face savings crisis

Many workers in sectors that shut down during the COVID-19 lockdown could be facing a retirement savings crisis, according to a report.

Scottish Widows polled 5,757 savers for its annual retirement report, which was undertaken in March 2020 - during the height of the pandemic.

Two-thirds (67%) of retail workers fear running out of cash if they ever retire, while 62% of...

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COVID-19 prompts increase in savings habits

More people in the UK have picked up the savings habit, despite interest rates falling to record lows in recent months.

Figures from the Office for National Statistics (ONS) show households are putting more of their disposable income into savings than at any time in the last four years.

The so-called savings ratio showed UK households saved 8.6% of their disposable income in...

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