Taxpayer faces £40bn bill as cost of emergency loan schemes soars
The taxpayer could be saddled with a £40billion bill as thousands of loans handed out under emergency government schemes turn sour. The Treasury watchdog confirmed
Category: Business
Chancellor warned foreign shoppers will desert UK if duty-free is axed
The Chancellor is under renewed pressure to reinstate duty-free shopping after the Office for Budget Responsibility (OBR) revealed how little it would save. Earlier this
Melrose Industries steadies ship after lockdown
Aggressive cost-cutting and a rebound in demand for car parts has helped steady the ship after a tumultuous start to the year. Melrose, which bought
Interest payments on the national debt to be lower than expected
Interest payments on the ballooning national debt will be almost £70billion lower than previously expected over the next five years. The debt – less than
Northern regions battle to host new National Infrastructure Bank
The race is on across the north of England as leaders compete for their regions to become the seat of two economic hubs. Rishi Sunak
Virgin Money sinks to loss after putting £500m aside for bad loans
Virgin Money has sunk to a full-year loss after setting aside £501million to cover bad loans. The challenger bank, which was also knocked by £292million
Treasury set to collect almost £102bn less than predicted in March
‘Our health emergency is not yet over,’ the Chancellor of the Exchequer said yesterday. ‘And our economic emergency has only just begun.’ Facing the steepest