France launches €100bn stimulus plan to drive Covid-19 recovery – business live

Rolling coverage of the latest economic and financial news, as Apple and Tesla lead stock markets into the red

Earlier:

5.59pm BST

Today’s market slide will not be well received in the White House.

Last night, president Trump tweeted excitedly that the Dow Jones had hit 29,000 points for the first time since February:

The Dow Jones Industrial just closed above 29,000! You are so lucky to have me as your PresidentWith Joe Hiden’ it would crash

5.56pm BST

There was another reason for the stonking stock market rally since April — the massive money-printing programme launched by the US central bank, as it cut Read the rest

Bank of England: workers can't all return to the office now – business live

Rolling coverage of the latest economic and financial news, as MPs quiz the Bank of England about the economic cost of Covid-19

Earlier:

6.12pm BST

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.”

Watch the full session on demand here:https://t.co/K6x6q5Y9mS pic.twitter.com/OZt9N00xS6

5.23pm BST

Here’s a quick recap of the main points from … Read the rest

Major tax rises will be needed to tackle record debt levels, Sunak told

Economists say significant changes should be kept back until proper recovery takes hold

Tax increases will be needed across the board for Britain’s highest and lowest earners to bring down record levels of government debt amassed during the coronavirus crisis, leading economists have warned.

Sending a message to the chancellor, Rishi Sunak, as he explores possible options for raising taxes at the autumn budget, experts from four of the country’s leading economic thinktanks said any significant tax changes should not be introduced until a sustainable recovery has taken hold.

Continue reading…

Source link Read the rest