Government Borrowing Halves as COVID-19 Costs Fall

Government borrowing in the last financial year more than halved from the amount borrowed a year earlier when the UK saw major COVID-19 restrictions. Borrowing – the difference between spending and tax income – stood at £151.8bn, less than half the £317.6bn borrowed in 2020-21, figures showed. The government has had to borrow less since […]

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Number of Firms in Critical Financial Distress Rises Sharply

A growing number of UK businesses are at risk of going under, as costs spiral and COVID-19 loan repayments come due, a report has found. Construction and hospitality are the sectors struggling most, according to insolvency firm Begbies Traynor. Loan repayment schedules should be extended to ease the pressure, it said. The government said it […]

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Ukraine War to Cause Biggest Price Shock in 50 Years – World Bank

The war in Ukraine is set to cause the “largest commodity shock” since the 1970s, the World Bank has warned. In a new forecast, it said disruption caused by the conflict would contribute to huge price rises for goods ranging from natural gas to wheat and cotton. The increase in prices “is starting to have […]

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