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On 28 March, Fitch Ratings downgraded the UK's government debt rating from AA to AA−, because of coronavirus borrowing, economic decline, and lingering uncertainty over Brexit. The ratings agency believed the UK's government deficit for 2020 might equal 9% of gross domestic product (GDP), compared to 2% the previous year. [87]
A 2021 parliamentary report Coronavirus: Lessons learned to date [298] described the decisions on lockdowns and social distancing during the early weeks of the pandemic, and the advice that led to them, as "one of the most important public health failures the UK has ever experienced", and the vaccination approach, including its research ...
The March 2021 United Kingdom budget, officially known as Protecting the Jobs and Livelihoods of the British People was a budget delivered by Rishi Sunak, the Chancellor of the Exchequer in March 2021. [1] It was expected to be delivered in autumn 2020, but was postponed because of the COVID-19 pandemic.
The British government debt is rising due to a gap between revenue and expenditure. Total government revenue in the fiscal year 2015/16 was projected to be £673 billion, whereas total expenditure was estimated at £742 billion. Therefore, the total deficit was £69 billion. This represented a rate of borrowing of a little over £1.3 billion ...
In its final December 2021 report [72] it concluded that (a) the main factors behind the higher risk of COVID-19 infection for ethnic minority groups were occupation, living in multigenerational households, and living in densely-populated urban areas with poor air quality and higher levels of deprivation; (b) once infected, the risk of dying ...
Government borrowing was much higher than expected in October, as debt interest payments hit a record high and public sector pay rises contributed to higher spending. Borrowing - the difference ...
In August 2020, the UK government made a grant of £2 million to support data collection by the project, [10] [11] and by August 2021, government funding amounted to £5m. [12] In May 2021, the associated company name was changed from ZOE Global Limited to ZOE Limited. [ 13 ]
The UK government intensified its efforts to respond to the cost-of-living crisis in May 2022, with a £5 billion windfall tax on energy companies to help fund a £15 billion support package for the public. The package included every household getting a £400 discount on energy bills, which would be in addition to a £150 council tax refund the ...