Summer Economic Update July 2020

Resolution Foundation overnight analysis

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This was not a Budget, but was still a big deal with £30bn of measures to support the economy. This is particularly significant when seen in combination with £160bn of pandemic-related support already announced, leaving borrowing this year on course to reach £350bn. Debt interest costs will continue to fall, although the crisis will leave … Continued

Doing what it takes

Protecting firms and families from the economic impact of coronavirus

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The coronavirus health crisis is now a full-blown economic crisis, and one that may last for much more than a few months. Firms will go bust and unemployment will rise. The majority of this economic damage will be driven not by the direct impact of coronavirus itself, but by the necessary measures – such as social distancing – that we put in place to respond to it.

Spring Budget 2020 response

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Britain’s new Chancellor gave the country a big Budget, combining a larger-than-expected response to coronavirus with a resetting of the Government and Conservative party’s approach to managing the public finances. A large appetite for increasing public spending has been combined with far less appetite to raise taxes. The result is a Conservative Chancellor now planning … Continued

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