One in seven UK businesses in fear of collapse, survey shows

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Recession

Official snapshot taken prior to latest lockdown in England reveals confidence low

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Chairs and tables stacked up in a closed restaurant overlooking the sea in Southend. Even before the second lockdown in England was announced, a third of hotels and restaurants said they would struggle to make it through to the New Year.
Photograph: John Keeble/Getty Images

One in seven businesses in Britain was teetering on the brink of collapse even before the new lockdown in England came into force at the start of November, the latest official snapshot of trading conditions has revealed.
The regular update from the Office for National Statistics showed that one in seven firms polled during the last two weeks of October said they had low confidence or no confidence that they would survive the next few months.

Timeline Sunak’s changes to job protection schemes

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24 SeptemberThe chancellor announces the “winter economy plan” to replace the job retention scheme (JRS), which was introduced in March and covered 80% of the wages of temporarily laid-off workers. Commonly known as the furlough scheme, at one point the JRS supported more than 9 million employees.
Rishi Sunak says it …

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