Foreign workers are leaving Britain at the fastest pace since World War II, presenting a challenge to an economy already roiled by Brexit and the coronavirus. London alone has lost 700,000 people over the last year, recent research suggests.
The United Kingdom is set to spend billions of pounds in extra support for the economy over the next four months, as pandemic curbs pushed unemployment to its highest level of almost five years. The chancellor of the exchequer Rishi Sunak will set out the details in his Mar 3 budget.
The UK and Brazil made agreements on financial services, taxation, sustainable growth and Green Finance, helping to boost jobs and investments for UK companies. The fourth Economic and Financial Dialogue (EFD) between the UK and Brazil on 10 December 2020 saw the Chancellor, Rishi Sunak, and the Brazilian Economy Minister Paulo Guedes, meeting to build further economic ties between the two countries. They were joined by central bank Governors and heads of financial sector regulators.
Britain reduced its foreign aid spending commitment on Wednesday to 0.5% of gross domestic product from 0.7%, causing junior minister Baroness Liz Sugg to resign and an immediate outcry from development organizations and the spiritual head of the Church of England.
British finance minister Rishi Sunak is preparing to introduce sweeping tax cuts and an overhaul of planning laws in up to 10 new “free-ports” within a year of the UK's becoming fully independent from the European Union in December, the Sunday Telegraph said.
The UK government on Wednesday unveiled a package worth £30 billion (US$37 billion, €33 billion) to save jobs and help the young into work to kick-start the coronavirus-hit economy.