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Chancellor To Announce New COVID-19 Support Measures At 1130BST
Chancellor of the Exchequer Rishi Sunak is expected in the Commons in around half an hour at 1130BST (0630ET, 1230CET) to deliver a statement regarding additional financial support for regions of England put into Tier 2 COVID-19 restrictions.
- Link: https://www.youtube.com/watch?v=SE0LtwISlr0
- The measures have been trailed as a significant package of support for industries such as hospitality that have been hit hard by the 'rule of six' limit on gatherings, the 10pm mandated closing time for pubs and restaurants, and the ban on households mixing indoors that all apply in the 'high risk' Tier 2 areas.
- Politico is quoting a Whitehall source stating that the package is "not furlough but it's intended to help people in Tier 2 and 3," while The Sun adds that "firms hit by Tier 2 restrictions such as pubs, bars and restaurants will get two thirds of wages paid for by the state." and that Sunak is "considering expanding the eligibility criteria for business grants, which are currently only on offer to businesses forced to close altogether."
- The UK registered another record increase in cases on October 21, with 26,687 added to the total. The spread of the virus remains relatively restricted to various regions, with the north of England, Scotland's central belt, and south Wales all seeing notable spikes in infections.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.