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Browse releases

Business News Wales – Openreach Invests £1.7 Million in New Learning Centre for Engineers in Wales
September 16, 2021

View this article here. Openreach and First Minister for Wales, Mark Drakeford, today unveiled a brand new ‘National Learning Centre for Wales’ that will teach the country’s next generation of telecoms engineers how to build and maintain vital broadband services for communities across the country. Based in Newport, the new £1.7 million centre will give

The Daily Express – Our plan for jobs is working as unemployment continues to fall, says Rishi
September 16, 2021

View this article here. The number of people with jobs rebounded to pre-pandemic levels after the biggest jump in employment since 2014, new figures show. The Office for National Statistics (ONS) said workers on payrolls rose by 241,000 between July and August. It also said the rate of unemployment dropped again, to 4.6 percent. The

Daily Express – Our plan for jobs is working as unemployment continues to fall, says Rishi
September 15, 2021

View this article here. The number of people with jobs rebounded to pre-pandemic levels after the biggest jump in employment since 2014, new figures show. The Office for National Statistics (ONS) said workers on payrolls rose by 241,000 between July and August. It also said the rate of unemployment dropped again, to 4.6 percent. The

Business World – Aspiring for high-income status
September 15, 2021

View this article here. Despite the continuing weaknesses of our still fragile democracy, the Philippines is no longer known in international circles as the “sick man of Asia.” Since the beginning of the Third Millennium, as we saw in previous articles in this series, the Philippines has been constantly in the list of the most

Dhaka Tribune – OP-ED: Bangladesh and its emerging economy
September 15, 2021

View this article here. In the CEBR report, Bangladesh ranks 40th among 193 nations this year and would ascend to 25th in 2034, a place presently held by Belgium According to the World Economic League Table 2020, Bangladesh’s economy would grow at one of the fastest rates between 2020 and 2034, thanks to a demographic

FT Advisor – Policy changes needed to fix pension gap
September 15, 2021

View this article here. Decisive policy action is needed by government to fix the gender pensions crisis, senior industry professionals have stated. Sean Christian, managing director and executive director of the wealth management division at Canada Life, called the gender pension gap between men and women a serious “inequality” which “can only be addressed through

Politico – UK job vacancies top one million in new record
September 14, 2021

View this article here. Vacancy numbers in the U.K. soared by 249,000 to more than one million for the first time since records began, amid staff shortages worsened by the pandemic and post-Brexit immigration curbs. The Office for National Statistics (ONS) said Tuesday the rate of unemployment dropped to 4.6 percent, with the number of U.K. workers

Reaction – Baby boomers are not robbing the young
September 14, 2021

Douglas McWilliams View this article here. The debate about the funding of social care has reopened the arguments about the inequality of wealth distribution in the UK between the old and the young. The generally accepted narrative, aggressively promoted in Lord Willetts’ book, The Pinch – How the baby boomers took their children’s future – and why

Highest tax burden in over 50 years will unnecessarily hamper UK economic recovery
September 13, 2021

This week saw the announcement of the Government’s plans for long-awaited reform to the social care system, an issue that has plagued Prime Ministers for decades. The reforms, which come into force from October 2023, involve a cap of £86,000 on the care costs paid by individuals across their lifetime, and tapered care cost support for

The Telegraph – Growth plummets amid warning that tax raid risks derailing recovery
September 10, 2021

View this article here. Alarming figures showed Britain’s post-Covid recovery grinding to a virtual halt in July just days after Boris Johnson unveiled plans for a £36bn tax raid. The anaemic growth of just 0.1pc leaves the economy 2.1pc below its pre-pandemic peak during a month when the surging delta variant triggered a ‘pingdemic’ of absent

The Telegraph – Pingdemic’s economic cost revealed as growth slumps to just 0.1pc
September 10, 2021

View this article here. The UK’s economic growth ground to a virtual halt in July amid the pingdemic, as economists and Tory MPs warned that Boris Johnson’s £36bn tax raid threatens to further stifle the recovery.  Growth of just 0.1 per cent leaves the economy 2.1 per cent below its pre-pandemic peak during a month when the

Arab News – Afghanistan may seek more business with China, CEBR says
September 10, 2021

View this article here. A leading London-based think tank has warned the Taliban will be forced to seek cooperation with China to resuscitate the country’s war-torn economy following US withdrawal and the freezing of Western aid. A report by the Centre for Economics and Business Research said China was best placed to fill the vacuum

Insider UK – Rural Scotland sees significant decline in new businesses during 2020
September 8, 2021

View this article here. Coastal and rural areas in Scotland have seen a significant decline in trading companies over the first 12 months of the pandemic, when compared to the previous 12 months. The average monthly number of new businesses starting up has declined across the UK during the coronavirus crisis, but the decline in

The Daily Express – ‘Significant cultural shift’ Over 50s avoiding retirement due to state pension age changes
September 6, 2021

View this article here. The new report from L&G and the Centre for Economics and Business Research (Cebr) found that 47 percent of all over 50s are predicted to be part of the UK’s workforce. In 2020, the number of people over the age 50 in work rose to 42 percent, a sharp rise from

The National, Business – Supply chain challenges constrain UK manufacturing growth in August
September 6, 2021

View this article here. British factory output in August grew at the weakest rate for six months as supply chain challenges affect manufacturers’ recovery from the Covid-19 crisis, according to IHS Markit. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index fell to 60.3 last month from 60.4 in July. While the figure was still above the 50

The National, Business – Annual inflation in OECD countries up to 4.2% amid rising energy and food prices
September 6, 2021

View this article here. Annual inflation across some of the world’s biggest economies increased to 4.2 per cent in July, driven by soaring energy and good prices, according to the Organisation of Economic Cooperation and Development. The rise in prices in July, up 0.2 per cent on June, came as energy prices across the 37-member

The Press and Journal – Your Money: Scots now more financially resilient but still facing £31bn savings shortfall
September 6, 2021

View this article here. Scottish households are facing a £31 billion savings shortfall despite the stay-at-home boost caused by Covid-19 restrictions, a new report says. This is the extra amount Scots believe they would need to withstand a financial shock, which equates to an average shortfall of £6,938 per head, according to Yorkshire Building Society (YBS). Its

Afghanistan is one of the world’s poorest countries. It may just about to be transformed economically by the Chinese – despite the Taliban
September 6, 2021

We normally allocate the country reports for Cebr’s World Economic League Table in turn. I traditionally get the first country on the list which is Afghanistan. And so I’ve been writing a macro report on its economy each year for the past four years. Over this period, the prospects for the economy have gradually deteriorated.

The Telegraph – Raising National Insurance to fund social care overhaul will hurt growth, economists warn
September 4, 2021

View this article here. A National Insurance hike will deal the UK’s recovery up to a £6.5 billion blow, risk thousands of jobs and worsen inequalities, economists have warned as the Prime Minister readies a tax raid to fund a social care overhaul. Boris Johnson was urged to reconsider the proposals to pay for elderly care by

Mortgage Introducer – YBS: Consumers face £371bn savings shortfall
September 1, 2021

View this article here. Consumers are currently facing a £371bn savings shortfall when it comes to feeling able to withstand a financial shock, according to Yorkshire Building Society’s The Nation’s Nest Egg report. The report, which was conducted in partnership with the Centre for Economics and Business Research (Cebr), found that UK adults require savings

iNews – More people are working into their sixties than ever before, report finds
September 1, 2021

View this article here. The proportion of people aged over 50 in employment is set to hit 47 per cent by 2030 following a 36 per cent increase in the absolute number the last two decades, according to a new report. The ‘Working Late: Over 50s and employment’ report, released by Legal & General Retail

Teesside Live – Early retirement is being retired – number of over-50s in work set to reach record high
September 1, 2021

View this article here. The number of people over the age of 50 in work is set to reach a record high by 2030, a new report predicts. Research suggests that almost half of those in the older age group will be in work within the next decade, compared with fewer than a third in

Pensions Age – Over-50s in work to reach record high by 2030
September 1, 2021

View this article here. The proportion of over-50s in work is set to reach a record high of 47 per cent by 2030, according to Legal & General (L&G) Retail Retirement and the Centre for Economics and Business Research (CEBR), with a similar trend expected for those working past state pension age. The report, Working Late:

The Construction Index – Campaign group calls for more action on late payment
September 1, 2021

View this article here. Despite progress at many major contractors, the construction industry is still moving too slowly in tackling late payment, says the Good Business Pays campaign group. The Good Business Pays campaign launched on the 14th May 2021 to encourage the UK’s largest companies to fast track payments to small suppliers, helping them

Daily Echo – Number of over-50s in work set to reach record high
August 31, 2021

View this article here. The number of people over the age of 50 in work is set to reach a record high by 2030, a new report predicts. Research suggests that almost half of those in the older age group will be in work within the next decade, compared with fewer than a third in

The Times – We all need more public holidays, say unions
August 31, 2021

View this article here. The government should create four more bank holidays to improve the “stingy” entitlement that UK workers have in comparison with other countries, the Trades Union Congress has said. Workers in England and Wales enjoyed eight bank holidays a year, while the European Union average was 12.8, it said. Of the home

Daily Express – Savings warning as Britons face £7,000 ‘shortfall’ – act to secure ‘financial security’
August 31, 2021

View this article here. Saving money has been a challenge for many people due to the strains of the COVID-19 pandemic. However, for others, remaining at home has meant cutting down on expenditure which can go towards their savings. Despite a bumper stay-at-home savings boost, though, many are falling short of what they need to feel

City A.M. – UK facing £371bn savings shortfall despite financial resilience improving
August 31, 2021

View this article here. Consumers are currently facing a £371bn savings shortfallwhen it comes to feeling ready to cope with a financial shock, according to a new report. Adults in the UK require a nest egg of £17,465 to feel financially secure while the average Briton needs an additional £7,220 to reach this goal, Yorkshire

The UK car industry has been suffering and Covid is just a part of the problem
August 31, 2021

The latest SMMT data on car production show that in July, UK manufacturers assembled less than 54,000 new cars. This is the worst July figure since 1956 and a 37.4% year-on-year decline [1]. Up until March this year, car production had seen reasonable month-on-month growth rates and seemed to be recovering from its 2020 woes

The Telegraph – Record number of people forced to work into old age
August 30, 2021

View this article here. Half of all over-50s will still be in the workforce by 2030 as older workers increasingly delay retirement.   Hundreds of thousands of extra workers over the age of 50 will stay in work longer, either because they cannot afford to retire or because the rise of remote working improved flexibility. That is

Cover Magazine – UK staff unsupported on future of working habits: LifeSearch
August 25, 2021

View this article here. LifeSearch’s latest update to the Health Wealth & Happiness Index finds that employers are not listening to staff on how they wish to work. Just 15% of employees stated that their employer had sought their input or opinion on how they want to work going forward, whether that be in the

The Telegraph – Five charts that predict the next house price crash
August 25, 2021

View this article here. The property market has been running at 1,000 miles per hour for more than a year. But in July the disappearance of stamp duty holiday savings triggered a drop in transactions to 22pc below normal levels.  Demand is calming, the end of the moratorium on mortgage repossessions has lifted, and high inflation is

Evening Standard – Londoners balk at full-time return to office
August 24, 2021

View this article here. ondon’s workers are the least happy to return to the office full-time, despite more than 6 in 10 being unhappy with their current remote work set-up, says new research. More than half (57%) of those polled said they’d be happiest with a hybrid of working remotely and at their workplace. Meanwhile,

The labour market threatens to slide into a two-speed recovery with older workers most vulnerable
August 23, 2021

The last 18 months have seen a drastic uptick in redundancies, furloughed workers and economic inactivity – and although the labour market is on the mend, not everyone participates in the recovery equally.  Many elderly people have dropped out of the labour force which could pose a greater problem to the economic recovery than is

The backwash from a US monetary tightening could hit emerging markets at the same time as lack of vaccination is delaying their post-Covid recovery
August 16, 2021

My former CBI colleague Andrew Sentence recently described central banks’ typical attitude to emerging inflation as initial denial that there is a problem, then suggesting it was ‘just a blip’, then admitting that there are inflationary pressures but that ‘they are only temporary’, before finally realising that inflation had in fact taken off, requiring urgent

The Daily Express – Eurozone warning as economic recovery ravaged by poor output figures – bounceback on brink
August 13, 2021

View this article here. A data release from Eurostat today showed industrial production in the eurozone – referring to the 19 countries which have adopted the euro as their currency – marginally contracted by 0.3 percent month-on-month in June. The disappointing figures follow on from May’s one percent contraction. On an annual basis, June’s industrial output levels were up by 9.7

City A.M. – Pandemic stretches gender pension gap to nearly £200,000
August 12, 2021

View this article here. Women’s retirement prospects and savings have been dragged down by the pandemic much more than men’s, widening the gap between their pensions pots by almost £200,000. On average, the difference between the average pensions of women and men aged over 55 widened to £184,000 in in the last year – up

FT Adviser – Covid widens gender pension gap by 17%
August 11, 2021

View this article here. The gender pension gap for over-55s widened by 17 per cent (or £26,673) in 2020, as the “disproportionate” effects of Covid-19 took their toll on women’s finances. Last year the gender pension gap grew from £157,263 to £183,936, according to data published by the Centre for Economics and Business Research and equity

The Mirror – Women face £27,000 pension black hole due to furlough – how to take back control
August 11, 2021

View this article here. Women’s pension pots shrunk by an average of £27,000 during the pandemic when compared to men’s, research shows. The ‘gender pension gap’ is now £183,936, according to the Centre for Economics and Business Research (CEBR) and equity release lender More2Life. Last year this was £157,263 – a £26,673 difference. Women have smaller pensions than men

Money Marketing – Gender pension gap worsens among over-55s
August 10, 2021

View this article here. Research from the Centre for Economics and Business Research (Cebr) shows the gender pension gap has widened to more than £180,000 among people over 55. Men are anticipating an annual retirement income of £20,712, whereas women expect their income will be £14,964 in later life. Considering life expectancy, the gender pensions

The Telegraph – Women face £27,000 pension black hole due to pandemic
August 10, 2021

View this article here. The divide between the size of men and women’s pensions has widened by £27,000 as a result of the pandemic, with women now facing working years later to enjoy the same retirement. Women’s pensions have become £183,936 smaller than men’s on average, according to a report by lender More2life and the Centre for Economics

The Independent – ‘Alarming wake-up call’: Pandemic increases gender pensions gap to ‘almost £200,000’
August 10, 2021

View this article here. The pandemic has increased the gender pensions gap to almost £200,000, according to a new study. Research carried out by the Centre for Economics and Business Research found women are missing out on £183,936 compared to the amount men receive from their pension. This is despite the fact women give a bigger proportion of income

City A.M. – Rolling out the welcome map for tourists will pay off for London
August 9, 2021

View this article here. Anyone who has lived in London for more than a few months will have a jaundiced view of tourists. They crowd the pavements and the Tube, they form great queues outside museums and galleries, they book out restaurants and they seem to have a preternatural ability to wander aimlessly in a

The Telegraph – London misses out on £7bn tourist spending from travel restrictions
August 5, 2021

View this article here. London will bear the brunt of an £11bn tourist spending shortfall caused by the UK’s travel restrictions, new research reveals.  The capital will miss out on £7bn given its dependency on overseas visitors, according to the Centre for Economics and Business Research (CEBR). Total visitor spending in the second half of 2021

International travel restrictions could mean an £11bn spending shortfall by the end of the year, with London accounting for £7bn as other areas plug the gap with staycationers
August 5, 2021

With most Covid-related restrictions lifted and the ‘pingdemic’ set to ease drastically on 16th August, as fully vaccinated individuals avoid having to isolate following contact with someone that tests positive, one of the final remaining frontiers in the fight for normality is international travel. The current rules for international travel generally depend on the colour

The News International – Regional connectivity: recipe for economic growth in the region
August 5, 2021

View this article here. Rapid transportation, easy communication, and minimizing tariff and non-tariff trade barriers between countries and regions are key to economic growth and prosperity. These measures lead to inclusive growth of the entire region by enabling all countries to reap fruits of their shared development and economic growth. It is, no doubt, a

Reaction – Have the Chinese abolished boom and bust?
August 2, 2021

View this article here. In the last month, China’s highly successful private tutoring companies and many of its top tech companies, including entertainment giant Tencent, online retailer AliBaba and ride hailing app Didi, have all fallen foul of new Chinese government regulations and faced sharp share price falls. Meanwhile the second-largest Chinese property company Evergrande, which

Could the Chinese, unlike Gordon Brown, have ‘abolished boom and bust’ despite an average property costing 28 times average income?
August 2, 2021

In the last month, China’s highly successful private tutoring companies and many of its top tech companies, including entertainment giant Tencent, online retailer AliBaba and ride hailing app Didi, have all fallen foul of new Chinese government regulations and faced sharp share price falls. Meanwhile the second-largest Chinese property company Evergrande, which has now broken

The Times – US economy bigger than before Covid in consumer-led recovery
July 30, 2021

View this article here. The American economy is larger than it was before the pandemic thanks to huge stimulus efforts and widespread vaccination, but growth in the second quarter still failed to live up to analysts’ expectations. The US economy is enjoying a strong, consumer-led recovery thanks to the government’s $1.9 trillion stimulus package. Output is

The Pew Charitable Trusts – To Better Fight Illegal Fishing, Governments Advance Information Sharing and Capacity Development
July 29, 2021

View this article here. Illegal, unreported and unregulated (IUU) fishing is a major issue worldwide, accounting for up to 1 in 5 wild-caught ocean fish every year. Now, with more States joining a treaty intended to stop IUU fishing, effective coordination across regional, national and international boundaries to fight this illicit activity grows ever more

Bloomberg – U.K. Food Fears Return as Covid Pings Spark Labor Shortages
July 27, 2021

View this article here. British food producers, retailers and transport companies descended into panic mode over the weekend as a surge in workers being forced to self-isolate hits suppliers across the country. Workplaces have seen a rush of absences after 1.7 million people were “pinged” as of last week by a National Health Service app that tells

Bloomberg – U.K. Economy Faces $6.3 Billion Hit From Pingdemic, CEBR Says
July 25, 2021

View this article here. The U.K.’s economy could face a loss of more than 4.6 billion pounds ($6.3 billion) in just four weeks if rules on self-isolation following a “ping” from the NHS app aren’t relaxed, according to data from Centre for Economics and Business Research. Since July 19 “freedom day,” the surge of Covid cases in

The Star – UK economy faces US$6.3b hit from ‘pingdemic’, CEBR says
July 24, 2021

View this article here. The U.K.’s economy could face a loss of more than 4.6 billion pounds ($6.3 billions) in just four weeks if rules on self-isolation following a “ping” from the NHS app aren’t relaxed, according to data from Centre for Economics and Business Research. Since July 19 “freedom day,” the surge of Covid

The National – ‘Pingdemic’ could cost UK economy $6.3bn
July 24, 2021

View this article here. The UK’s economy could face a loss of more than £4.6 billion ($6.3bn) in just four weeks if rules on self-isolation following a “ping” from the NHS app aren’t relaxed, according to data from the Centre for Economics and Business Research. Since the UK’s “Freedom Day” on July 19, a surge

The Kuwait Times – UK ‘pingdemic’ leads to supermarket shortages
July 24, 2021

View this article here. LONDON: British supermarkets and suppliers warned Thursday of possible food shortages due to staff self-isolating, as rising coronavirus cases threaten chaos after the government controversially eased all restrictions earlier this week. With millions of workers and school children currently forced to stay home under COVID-19 tracing rules — in what has been

The Telegraph – £4.6bn pingdemic bill as disruption dents economic recovery
July 23, 2021

View this article here. The recovery is being crippled by the “pingdemic” as experts put the cost of the economic damage from millions of self-isolating workers at almost £5bn. Private sector firms suffered their slowest growth since the economy began unlocking in April as a surge in self-isolating staff worsened existing recruitment difficulties and labour

New pings data suggest £4.6 billion self-isolation cost to the economy following Freedom Day
July 22, 2021

With Covid-19 cases exploding in recent weeks, so has the number of self-isolation ‘pings’ received by unsuspecting individuals via the NHS COVID-19 app, asking them to isolate for 10 days. This has led to a headache for business owners, many of whom are only now getting their operations back to normal after months of restrictions.

Daily Express – Risk of debt: over-55s hit by urge to splurge
July 22, 2021

View this article here. Silver spenders have been warned against going on a spree to celebrate Freedom Day, as new research shows that many risk falling into debt as they borrow money to fund their pursuit of fun. The urge to spend, spend, spend is understandable after constant lockdowns, with millions of people looking to

Levelling up the Green Book – A Cebr Report for Homes for the North
July 22, 2021

In his first speech as Prime Minister, Boris Johnson promised to ‘level up across Britain’ and ‘answer the plea of the forgotten people and the left-behind towns’. In doing so, he pledged to ‘unleash the productive power’ of every corner of the country and made clear that boosting economic performance would be a priority of

Mortgage Strategy – Borrowing by over-55s set to rise: More2life and CEBR
July 21, 2021

View this article here. Total debts held by over-55s are forecast to swell by £10bn over the next year to £236bn, up from £226bn last year as consumer confidence returns, according to new analysis. The study, by More2life and the Centre for Economics and Business Research, suggests that returning optimism will result in lead to

Edinburgh Evening News – Edinburgh Festival: The value of this £1 billion event to city’s economy has been clear for decades – Steve Cardownie
July 21, 2021

View this article here. Bold headlines proclaimed that festivals can drive the capital’s recovery, according to Liz McAreavey the chief executive of Edinburgh Chamber of Commerce who said: “What has been really clear over the last 18 months is the connection between the economy and festivals”. However I would suggest that “the connection between the economy and

CGTN – England’s ‘Freedom Day’: A balancing act between economics and safety
July 20, 2021

View this article here. The Centre for Economics and Business Research (CEBR) said COVID-19 was the main cause of the $348 billion drop in the value of UK goods and services over the past year. Forecasters warn that not fully opening up the economy could cost upwards of $76 million a day. “In the entertainment

Stimulus spending can’t go on forever – but cutting Universal Credit too early risks derailing the economic recovery just as it gets going
July 19, 2021

It is clear that the Universal Credit (UC) uplift of £20 per week has improved the living standards of the UK’s worst-off households since it was implemented in March 2020, helping many to stay above the poverty line. Cebr’s Income Tracker research – conducted with ASDA – confirms this, showing that the increased value of social

Assembly – US Businesses Are Optimistic and Primed to Spend
July 16, 2021

View this article here. Good news! According to a new survey of global businesses conducted by American Express and the Centre for Business and Economic Research (CEBR), U.S. companies are the most bullish and optimistic when it comes to business-to-business (B2B) spending than companies in five other industrialized countries. The Global Business Spend Indicator (GBSI)

In Your Area – Digital Minister visits Harpenden to celebrate Openreach’s five millionth customer getting access to ultrafast full fibre broadband
July 14, 2021

View this article here. Minister for digital infrastructure, Matt Warman, has visited Harpenden, Hertfordshire, to officially ‘switch on’ the five millionth home to get access to Openreach’s ultrafast ultra-reliable broadband network. The Minister was given a guided tour of the town’s exchange building where Openreach engineers have installed new digital broadband equipment.  He then helped

International Airport Review – Heathrow and UK aviation industry to support economic pivot post-Brexit
July 14, 2021

View this article here. New research has highlighted how the UK could undergo an economic pivot post-Brexit, with non-European Union (EU) trade potentially increasing by 20 per cent over the next five years, from nearly £473 billion in 2019 to £570 billion in 2025. According to the Centre for Economics and Business Research, aviation will

Markets Insider – Economic Turning Point? New American Express Survey Shows Signs of Renewed Optimism for 2021 As B2B Spending Rises
July 12, 2021

View this article here. As COVID-19 restrictions loosen, the new Global Business Spend Indicator by American Express shows that Canadian businesses are spending more While still down from Q1 2020, business travel, entertainment and expense spending increased 8.3% between Q4 2020 and Q1 2021. 72% of Canadian businesses feel positive about their prospects over the

Lifting of restrictions on Freedom Day to boost UK GDP by £2.2 billion per month
July 12, 2021

In more ordinary times, economic trajectories are shaped by technological advances, demographic trends and policymakers’ use of fiscal or monetary levers. Over the past 16 months, by far the most influential driver of the UK’s economic performance has been the public health restrictions implemented in order to control the spread of Covid-19. The government has

Passenger Terminal Today – Heathrow banking on non-EU trade boost, but highlights need for government support
July 9, 2021

View this article here. The UK’s Heathrow Airport has highlighted new research that suggests the UK could undergo an economic pivot post-Brexit, with non-EU trade potentially increasing by 20% over the next five years from nearly £473bn (US$653bn) in 2019 to £570bn (US$787bn) in 2025. According to the Centre for Economics & Business Research, aviation

Construction News – The £3bn digital opportunity to transform UK construction
July 9, 2021

View this article here. The construction industry has shown its mettle during the COVID-19 pandemic, and the bounce back is now well and truly under way – with Britain’s construction sector recently seeing its fastest rate of growth since 2014. And that’s because the sector adapted quickly to new ways of working and delivering for customers after

Yahoo Finance – Economic Turning Point? New American Express Survey Shows Signs of Renewed Optimism for 2021 As B2B Spending Rises
July 9, 2021

View this article here. As COVID-19 restrictions loosen, the new Global Business Spend Indicator by American Express shows that Canadian businesses are spending more While still down from Q1 2020, business travel, entertainment and expense spending increased 8.3% between Q4 2020 and Q1 2021. 72% of Canadian businesses feel positive about their prospects over the

Aircraft Interiors International – Heathrow: aviation can deliver a ‘trade bonanza’ for the UK
July 8, 2021

View this article here. New research highlights how the UK could undergo an economic pivot post-Brexit, with non-EU trade potentially increasing by 20% over the next five years, from nearly £473 billion in 2019 to £570 billion in 2025. According to the Centre for Economics & Business Research (CEBR), aviation will need to be at

Breaking Travel News – Aviation well placed to lead economic renaissance in UK
July 8, 2021

View this article here. New research highlights how the UK could undergo an economic pivot post-Brexit, with non-EU trade potentially increasing by 20 per cent over the next five years from nearly £473 billion in 2019 to £570 billion in 2025. According to the Centre for Economics & Business Research, aviation will need to be

eTurbo News – How Aviation could be Cornerstone of the UK’s Global Britain ambitions
July 7, 2021

View this article here. New research highlights how the UK could undergo an economic pivot post-Brexit, with non-EU trade potentially increasing by 20% over the next five years from nearly £473 billion in 2019 to £570 billion in 2025. New CEBR report highlights how aviation could be the cornerstone of the UK’s Global Britain ambitions,

Airport World – Aviation can supercharge the UK’s economy post-Brexit
July 7, 2021

View this article here. London Heathrow, desperate to speed up the return of safe international travel, today flagged up a new report by the Centre for Economics & Business Research, which claims that aviation needs to be at the heart of the UK’s future economic growth. The new research highlights how the UK could undergo

DFNI Frontier – Heathrow launches quick-check trial for vaccinated travellers
July 7, 2021

View this article here. Heathrow Airport is running a trial with Virgin Atlantic to help vaccinated travellers pass through check-in quickly on arrival. The new scheme means that travellers can present their Covid-19 vaccination proof in either a digital or paper format ahead of arrival, which will allow them to enter the UK safely and quickly. The scheme, which is

Supporting a Global Britain – The Economic impact of Heathrow Airport
July 6, 2021

Download the full report here. Cebr has undertaken research to quantify the economic impact associated with Heathrow Airport. Headline results are summarised below. In 2019, the value of trade going through Heathrow Airport stood at approximately £188bn. Cebr forecast that by 2025 this will grow to over £204bn, representing 21.2% and 32.0% of UK trade of goods and non-EU trade of

On the Wight – Newport train line extension from Ryde: Business case submitted to Government
July 6, 2021

View this article here. A business case considering the re-opening of the railway between the existing Island Line and Newport has been submitted to the Department for Transport by the Isle of Wight Council. The authority, supported by Island MP Bob Seely, is seeking government support from the ‘Restoring Your Railway’ programme to further develop

Isle of Wight County Press – £67m Isle of Wight train plan sent to Department for Transport
July 6, 2021

View this article here. A business case considering the re-opening of the railway between Island Line and Newport has been submitted to the Department for Transport by the Isle of Wight Council. The authority, supported by Island MP Bob Seely, is seeking government support from the ‘Restoring Your Railway‘ fund. The plan is to further develop

Isle of Wight Radio – Newport Railway Extension: Feasibility Study Goes to Government
July 6, 2021

View this article here. A feasibility study looking at the re-opening of the railway between the existing Island Line and Newport has been submitted to the Department for Transport. The Isle of Wight Council, supported by Island MP Bob Seely, is seeking government support from the ‘Restoring Your Railway’ programme to further develop the case for

Honest News Reporter – Scarcity Economics Revives The Ghosts Of The UK’s 1970s
July 4, 2021

View this article here. The UK economy is taking off strongly after the acute covid crisis . However, this rapid recovery in activity can generate major problems in the short and medium term. The islands’ greater isolation after Brexit and global supply problems threaten to bring back the economy from the shortages seen in the

Retail Times – UK seeks to stimulate economic and digital growth with investment
July 2, 2021

View this article here. According to research, if digital investment is maintained, GDP could be £74 billion higher by 2025, £127 billion higher by 2030, and £232 billion higher by 2040. The research looked at the potential economic effect of a wave of digital transformation — powered technologies that enable new ways of working and interacting

Reaction – Is the UK heading for 1970s-style shortages?
July 2, 2021

View this article here. Most readers will not remember the shortages of the early 1970s, specifically 1973 and 1974. My parents were furnishing a newly built house overlooking the first fairway of the Muirfield golf course in December 1973 and I vividly remember them having to get the furniture made in Malaysia and then shipped to

The Press and Journal – Douglas McWilliams: Shortages and inflation fears reminiscent of the 1970s
July 2, 2021

View this article here. Some readers will remember the shortages of the early 1970s, and specifically 1973 and 1974. My parents were furnishing a newly built house overlooking the first fairway of the Muirfield golf course in December 1973, and I vividly remember them having to get the furniture made in Malaysia and then shipped

The shortage economy – if shortages cause inflation to hit 10%, it might cost 4% of GDP to get it back down again
July 2, 2021

Most readers will not remember the shortages of the early 1970s and specifically 1973 and 1974. My parents were furnishing a newly built house overlooking the first fairway of the Muirfield golf course in December 1973 and I vividly remember them having to get the furniture made in Malaysia and then shipped to the UK

The Times – Nightclubs struggle to get back into the groove
June 28, 2021

View this article here. Suggest to the boss of Britain’s biggest nightclub operator that the drinking in his venues inevitably leads to snogging and he’ll give you an earful. “How outdated!” he snorts. “Nightclubs haven’t done slow dances for 25 years. Get real!” Peter Marks’s outburst is hardly surprising given that his company’s 47 sites

BBC – Covid: Cardiff city centre working ‘50% lower’ than pre-pandemic
June 28, 2021

View this article here. The number of people working in Cardiff city centre is 50% lower than before the pandemic, according to research. A study by the The Centre for Economics and Business Research (CEBR) found the city had a lower share of workers back in the office than four other major UK cities. It found

Whether inflation becomes persistent will depend on the labour market
June 28, 2021

Inflation is back. US CPI inflation hit 5.0% this May, the highest reading in 13 years, while UK inflation soared above the Bank of England’s target to 2.1% in the same month. Even the eurozone, where a slower initial vaccine roll-out has led to a delayed recovery, saw above target inflation of 2.0% last month.

Wales Online – Number of workers in Cardiff halved since Covid
June 27, 2021

View this article here. The number of people working in Cardiff city centre has halved compared to the time before the pandemic. That’s according to a study by the The Centre for Economics and Business Research (CEBR), which has found the Welsh capital had a lower share of workers back in the office than four other

Retail Week – The £21bn opportunity: how digital investment can transform the retail sector
June 25, 2021

View this article here. Digital investment is the key for companies to boost their fortunes as we head out of the pandemic, says Mike Smith, managing director at Virgin Media Business. The past year has been like no other in the retail sector. Every retail enterprise, from local corner shops to global fashion giants, had

Business Live – Openreach rolls out £112m ultrafast full fibre broadband project in South West
June 24, 2021

View this article here. Another 280,000 South West homes and businesses are set to benefit from a £112m broadband boost in the region. A national upgrade plan from Openreach, the UK’s largest broadband network provider, will mean people living and working in parts of Bristol, Cornwall, Devon, Dorset, Gloucestershire, Somerset and Wiltshire will benefit with the

The Independent – Single parents bear the brunt of Covid debt as living standards slide
June 23, 2021

View this article here. Single parent households are facing disproportionate Covid debt as new data reveals they are three times more likely to have fallen into the red than adult-only households. Data seen exclusively by The Independent suggests households with one parent saw average debts rise by a staggering 44 per cent of their total monthly income

The Times – Digital dividends: how everyday tech could unlock billions for the UK
June 22, 2021

View this article here. Digital transformation is now at the top of the agenda for organisations across the UK, according to Virgin Media’s managing director of direct business, Mike Smith. “Together, we’ve made years of progress in months, even weeks,” he says. “Now, we have the chance to do things better than before. To improve

The Times – Labour shortage is forcing pay up but how long can it last?
June 22, 2021

View this article here. At £10 an hour for kitchen porters, £1,000 on the spot for chefs who sign up and £2,000 in referral bonuses for existing staff, working in the hospitality industry has rarely been so lucrative. Then again, for pubs, restaurants and hotels that are having to increase their pay as they struggle

The Times – Cities starved of billions by staff working from home
June 21, 2021

View this article here. Britain’s biggest cities are losing hundreds of millions of pounds a month in spending because of remote working. Purchases in London, Manchester, Glasgow, Newcastle and Cardiff will fall by a combined £322 million a month across their city centres if office workers continue to spend at least part of the week

London, Manchester, Glasgow, Newcastle and Cardiff set to see a total of £322 million a month lost in city centre spending as offices plan for hybrid working long-term
June 21, 2021

Cebr calculates that the coronavirus pandemic has resulted in a total of £11.9 billion of displaced city centre spending, as many workers swapped offices for their homes in major UK cities. This is the amount we estimate that workers would have otherwise spent in shops, pubs and eateries near employment hubs in five of the

Daily Express – Stamp duty end date looms – will house prices drop in 2021?
June 15, 2021

View this article here. Stamp duty land tax means taxes owed on the first £500,000 of any property has been scrapped until the end of this month, June 30. The stamp duty holiday was brought in by Chancellor Rishi Sunak as part of an array of measures trying to get the economy rolling again. The stamp duty relief

The Week – Freedom Day delay: ‘catastrophic’ for businesses on life support
June 14, 2021

View this article here. Forecasters have warned that the UK’s Covid-hit economy will suffer losses of £55m a day if Boris Johnson confirms that “Freedom Day” is to be delayed by four weeks. Government sources have told the BBC that “most coronavirus rules will remain in place” in England for another four weeks after the planned 21

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