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LONDON: Britain's coronavirus-ravaged economy suffered its biggest crash in output in more than 300 years in 2020 when it slumped by 9.9%, but it avoided heading back towards recession at the end of the year and looks on course for a recovery in 2021.
Retailers also seek to ease tax burden with permanent rate cut
LONDON: UK government borrowing climbed to a record £240.9bil (US$323bil) in the first eight months of the fiscal year, reflecting the damage inflicted on an economy now at risk of falling back into recession.
LONDON/BRUSSELS: Britain insisted on Sunday that the European Union should shift position to open the way to a post-Brexit trade pact, drawing a swift response from the bloc's negotiator defending the union's right to protect its interests.
PETALING JAYA: Positive consumer sentiment on the back of better economic growth is expected to spur car sales in 2021. Vehicle sales growth is also anticipated to remain steady even if the sales tax exemption that ends this month is not extended, say analysts
LONDON/BRUSSELS: Britain and the European Union struck a pessimistic tone in trade talks on Thursday, with a spokesman for Prime Minister Boris Johnson saying it was "very likely" there would be no agreement unless the bloc changed its position "substantially".