Rolling coverage of the latest economic and financial news, as MPs quiz the Bank of England about the economic cost of Covid-19
- Latest: BoE says return to work must be gradual
- Bank of England policymakers face MPs
- Risk of scarring from pandemic
- Fewer jobs created in US than expected
- Introduction: UK house prices at fresh peak
- Prices up 3.7% year-on-year in August
Here’s a video clip of BoE official Alex Brazier explaining why MPs can’t expect a ‘sudden and sharp’ return of office workers to their desk, despite pressure from the government to dial back home working.
Will we see a sudden return to offices?
Alex Brazier from the Bank of England told us that we shouldn’t expect so, adding:
“We should expect a more phased return.”
Here’s a quick recap of the main points from the Treasury Committee hearing.
The first is people have a caution about the public health issues. I feel safe coming to work, but I quite understand why many people might not.
Public transport capacity is a related factor there.
That is a major issue for a great many parents. They have to feel that their children are being properly cared for, and that their children’s education is being taken care of.