>

Coronavirus: recession looms with record fall in economic output – BBC News

0 views
0%

The United Kingdom is facing a “significant recession”, according to the Chancellor, Rishi Sunak. The Office for National Statistics reported a record fall in economic output in March.

The impact of the pandemic is likely to be even more damaging in the coming months, with one expert warning that the economy is in “freefall”.

The economy shrank by 2% in the first 3 months of this year, a period that includes only the first few days of the lockdown. The independent Institute for Fiscal Studies warned that the real impact of the lockdown is yet to be felt, with household spending shrinking at the fastest rate in more than 11 years.

Huw Edwards presents BBC News at Ten reporting from Economics Editor Faisal Islam.

Please subscribe HERE http://bit.ly/1rbfUog

source

From:
Date: June 29, 2020

49 thoughts on “Coronavirus: recession looms with record fall in economic output – BBC News

  1. Budget (2020-2021) some important things must be considered

    1. Whole world is fighting for CORONA VIRUS COVID 19 so Budget must have to be considered that issue first;

    2. Huge people in the world are unemployment right now & they have not that much money to deal with their life comfortably so need to think Government for that kind of people, financially helping them & recruit them in the job or other site considering their ability & talent;

    3. Budgeting only profitable heads on the expenditure & utilizing money properly in this crucial time otherwise liquidity crisis will badly arise;

    4. Captured the black money & convert into white;

    5. Government should priority the all kind of cultivation area & agriculture production for avoiding future food crisis;

    6. All kind of medical equipments, medicine etc. need to consideration in low/optimum tax & necessity to available to everywhere. Government should privilege that sector. (Take serious action any kind of fake Corona virus certificate provider, Exp. date medicine seller or dealer, unethical/ corrupted medicine or medical activist);

    7. All kinds of consumer goods must have to be strictly monitoring & ensure to available in every market place. Need to cooperation/consideration that goods with low/optimum tax & make sure the minimum pricing margin as well as everyone comfortably buy or sell. (Monitoring the market & any kind of syndicate & over pricing is strictly prohibited);

    8. Newly business, entrepreneurs, organization or company those sells has been seriously declining due to COVID-19 issue should give VAT & TAX flexibility. (If anyone shows unethical/corrupted report then will take serious action. Set investigation team in the joint stock, CA farm, Software & other area);

    9. All kind of export, Import, trading & Garments etc. based organization/company couldn't doing their business properly & cancelled lots of shipment due to COVID-19 issue. Should give them some privilege to run their business again;

    10. Government should give tax privilege in private company, farm, NGOs, Banks & nongovernmental organization those are low profitable & have chance to liquidation because it will increase unemployment;

    11. Government should give subsidiary/financial motivation some institution, organization, company, people those will surely profitable in future & cleanly have to seen their success in future like 1 year or less time. (Any kind of fake things will strictly prohibited);

    12. All kind Utility Bills like Electricity, WASA, Gas, Telephone etc. revenue should be consideration or not changing cost;

    13. Should give financial motivation all online base marketers, freelance & other online based business;

    14. Need smart budget & motivation for Intellectuals, musicians, poets, performing artist (street, stage or online base), Film maker, script writer, painter, artist, co-artist, Journalist, camera man (DOP) etc. any kind of people who's are involving media (print/TV, radio) & creating ART. (There are so many known/unknown talents we don't know them need to financial cooperate & introduce them);

    15. Avoid to any kind of effect in budget to racism & don't create any discrimination like any religion barrier, black or white skin barrier, age & others;

    16. We should forecast & focus some major components to resolution world economy.

    • Real GDP (Gross Domestic Product)

    • M2 (Money Supply)

    • Consumer Price Index (CPI)

    • Producer Price Index (PPI)

    • Consumer Confidence Survey.

    • Current Employment Statistics (CES)

    • Retail Trade Sales and Food Services Sales.

    • Housing Starts (Formally Known as "New Residential Construction")

    • Manufacturing and Trade Inventories and Sales

    • S&P 500 Stock Index (the S&P 500)

    17. Need budget for street children, street beggar, poor & homeless people etc. under poverty people & should try to make their earning source for living properly.

    18. Education budget should be more important & effective way.

    19. Defensive & security budget should be highly appreciable as well effective for this crucial time.

    Beside this points there are lot of things/heads which are not possible to cover here. We should need to find out rest of all heads & calculate it in every portion of corner then fix up the budget as well as utilizing the money properly. Finally we need effective budget for developing our economy, society, people & rest of all. Special thanks to all doctor, nurse, defensive person & rest of others those are delicately working in COVID-19 time.

    Making By,

    HOSSAIN SHARIAR CHOWDHURY

    BANGLADESH

  2. WHERE IS THE ONE TRUE GOD IN ALL OF THIS . I CAN TELL U WHERE , HE IS WITH THOSE WHO TRUST/HAVE FAITH IN HIM WITH WHOLE HEART. HE IS WITH THOSE WHO Cast all their cares UPON HIM WHO CARES FOR THEM. HE IS WITH THOSE HUMBLE TO HIS WORD & NOT WITH THEM WHO ARE PROUD OF HEART ( ring a bell ) HE IS WITH THE LITTLE CHILDREN WHO CALL

    HIM DADDY & ALSO WITH THEM WHO SIT @ HIS FEET TO HEAR HIS GLORIOUS/WONDERFUL/TRUTHFUL WORD OF LIFE

    AND GRACE. WHERE IS HE , PERHAPS THE FIRST PLACE U SHOULD LOOK IS IN YOUR OWN HEART ! ~Maranatha~

  3. IMF said this nearly 5 weeks ago. It's not a probally it is a definite recession once July comes. Who will take the blame, the government or the public?

  4. The nasty Cameron government blamed the poor for poverty and the unemployed for unemployment I wonder how the current government are going to blame this recession on the poor and unemployed .

  5. A money laundering scheme..and a deliberate world economy crash..follow the money in this nonsense..all for a 0.0004% death rate…research it for yourself..

  6. There are people earns cash right now still go out to get job of £1000 a day and the same time claiming govemrnt payment . There are also people have no job at home and no pay from government as company don’t want to pay

  7. As people come out of lockdown, they stare from caveman eyes. 1st priorities are food & necessities they have missed during this time. Lists made. Health related concerns priority as there remains the “What if?”. Trust needs to be re-established to venture beyond survivalist concerns. Communist China needs to be brought under operational control-creatively, so much so that this is established almost with exquisite, undertow & brilliance. Do we possess this talent, currently?

  8. WIPED OUT ECONOMY COMPARED TO AMERICA'S GREAT DEPRESSION with a population of approximately 122 million vs today's u.s. POPULATION at 377 million and 8.1 billion PEOPLE WORLDWIDE. Listen to me BECAUSE of the shutdowns. MASSIVE bank FAILURES have already started weeks ago. Massive panic HAPPENED. Food markets and the transportation system sectors across the globe are grounded no planes to move food. A trillion lbs of food has be TURNED under in fields. So MASSIVE UNEMPLOYMENT has proven in the poorest countries where STORES have NEVER existed to INCLUDE no HOSPITALS no INFRASTRUCTURE at all. Total tribe style living across THE GLOBE exists. So here's what's HAPPENING

    Mad MAX DAYS ARE UPON THE PLANET AND 2 BILLION PEOPLE ARE GOING TO DIE FROM STARVING TO DEATH LIKE A TRIBAL PERSON IN AFRICA. UNEMPLOYED IN HEAVILY ARMED COUNTRIES ACROSS THE GLOBE ESPECIALLY THE UNITED STATES EUROPE GERMANY ETC IS GOUNG TO GET MAD MAXING BIG TIME AT ILLEGAL CHECK POINTS HOME INVASIONS AT FOOD STORAGE FACILITIES BY THANKSGIVING. THE PEOPLE ARE RIOTING BECAUSE THE STUPID GOVERNMENTS SHUT DOWN COMMERCE AND CAN'T FEED THE PEOPLE YET YOUR SUPPOSE YO JUST STARVE WHICH IS LITERALLY HAPPENING IN THE UNITED STATES OF AMERICA RITE NOW. GROUNDING ENTIRE FLEETS OF PLANES GLOBALLY. MASSIVE ANARCHY AND CHAOS EVERYWHERE IS ALREADY HAPPENING 24 7 BECAUSE PEOPLE GET MID EVIL WHEN THEY ARE HUNGRY AND THE WEATHY GOVERNMENTS LIKE D.C. WHERE NOBODY CAN EVEN OWN A GUN. THEY ARE GOING TO DIE AS THEY ALREADY ARE LIKE EVERYONE ELSE BUT MUCH FASTER. ATTACTS ARE GOING TO HAPPEN AS ND KILL FASTER THAN THE DEATH RATE OF THE VIRUS BECAUSE OF FAMINE STARVATION AND MILLIONS OF ARMED MAD MAX GROUPS SCAVENGINGTHE PLANET. SOON 1 MILLION PEOPLE DEAD FROM FAMINE AND STARVATION WILL BE TENS OF THOUSANDS DAILY AND THE 2 MILLION ETC. NEW WORLD ORDER AGENDA IS TO DEPOPULATE THE WORLD. ANOTHER VIRUS IS COMING GLOBALLY VERY SOON THEN WATER SHORTAGES MARSHAL LAWS THEN CIVIL WARS GLOBALLY. CONSTITUTION RITES ARE ALREADY BEING WIPED OUT ACROSS THE GLOBE. BE ALERT BE ARMED AND GET THE HELL OUTTA THEM LARGE CITIES.

  9. CHINA's fault but compounded by our lack of planning /understanding for dealing with situation like this. This is battle field triage with out who really know how to do it the Armed Forces. Stop loan repayments to China billing them for intial costings. We the working class as usual take the biggest hit.
    Dig in Folks Dig in, its gonna be BIG. 😞

  10. You should ask fake B@st@rd reporter Hassan Akkad, who arrived in England with the fake passport and stupid U.K govt gave him indefinite leave and since his 5 years is over he has become a volunteer to help covid patient for NHS. A man who travel by rubber ⛵ boat and a fake passport is a criminal regardless of whether he's a reporter or not and should be given a prison sentence and then deported.

  11. if you have stupid people leading the economy who have no understanding of economics, this is what happens. They should have started from identifying people who have health issues, elderly etc and made sure they are safe and isolated then leave the rest function as normal, this way they virus would die out quickly and the impact would be manageable.

  12. ALL it will take, is the FORGIVENESS of debt…. and we're back to a new Economic Upswing.
    The Usurious Bankers will lose in this ……hence…..no chance.

  13. Be ready we are in for a massive recession. Short and hard. Taxes will go up. National Insurance will go up. Your jobs will be more insecure than you realise. Save your money. Be ready. Late this year into spring

  14. BBC =322 a Masonic bunch of liars. When you watch news, keep in mind, they are pushing propaganda, social engineering and the use of symbolism. They are laughing at you. Is complete brainwashing.

  15. Dear Government of the United Kingdom,

    Please do not let us, your people, down. We can avoid a herd immunity situation, save lives and recover from this economically. We need you, the Government, to make the rational and just decisions that we deserve: decisions that prioritise controlling the disease as opposed to decisions that prioritise the economy. The equation here is simple, and you do not need to have a storied career in politics or economy analysis to know that easing lockdown restrictions prematurely; allowing schools to reopen in June, giving employers the means to request employees back to work, etcetera, will almost definitely result in a second wave, meaning a return to square one. A return to square one implies a second wave of pressure on the economy which you are trying to save, a second wave of pressure on the NHS and most unfortunately, a second wave of avoidable deaths. All of this is avoidable. The solution is simple, and although it will appear to hurt our economy in the short term, it is a better option than the alternative of a second wave. The solution: do not ease lockdown restrictions prematurely. We have to maintain our solidarity and resilience to get through this, but the more we fight back against the spread of this disease now, the sooner the economy will be stable again, and this tragedy behind us. Although there is a general uncertainty regarding how long it will take us as a people to put this behind us, with this disease being new to mankind, continued efforts of social distancing and restrictions on public gatherings of all kinds, combined with the scientific efforts to combat the virus itself, will inevitably yield great results, in due time. So we ask you, those in Government with the ability to make the decisions to make this happen, please; do the right thing.

    Thank you.

    Regards,

    The People

    (Share this message if you agree with it, in the hope to circulate it around to those with the means to action these words. Thank you.)

  16. it dont bother me none life is more important than money you can live without holidays abroad, fancy clothes. takeaways. pubs. or kids in school till they are 18, it wouldnt bother me if we closed all British boarders and went back 300 years eating home grown food, coal and wood burning fires in the houses. oil lamps and horse drawn transport as long as people were save the future generations will re build chance how far back we have to go to rid the virus

  17. Time to fight, we are seriously close to mass riots that hopefully turn into a full on civil war between those who have everything and those that have nothing, they might have just over one hundred thousand brain dead pigs, but we have a army of 70million,this civil war could be over in days, but oh no, we will line up begging our masters for the scraps of their elite globalist table of greed.

  18. Everybody and everything has coronavirus, this scam is beyond a joke now! Dr Magulifi the president of Tanzania who has a bachelor of science in education, a degree majoring in chemistry and mathematics. He also earned his masters and doctorate degrees in chemistry. And was an industrial chemist for many years. He sent off samples from a tree, car oil and a goat and labelled them as human samples, guess what?.. They all came back positive for coronavirus hahahahhaa

Leave a Reply

Your email address will not be published. Required fields are marked *