Bank of England's top economist warns against furlough scheme extension
Summary
The Bank of England’s chief economist has warned the government against extending the furlough scheme, arguing it will delay an “inevitable” shake-out of businesses hit by the Covid-19 pandemic.
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Bank of England Chief Economist Warns Against Extending Furlough Program
(Bloomberg) -- The Bank of England’s chief economist has thrown his weight behind the government’s controversial plan to let its wage-support program end, saying that prolonging it could delay the economy’s much-needed restructuring.Calls have been mounting for the subsidies to be extended beyond next
Bank of England tells insurers to step up climate change preparations
LONDON - How much capital insurers must hold could be directly linked to their readiness to cope with risks from climate change, a senior Bank of England official said on Wednesday. BoE executive director Anna Sweeney said there is "still some way to go" for a number of insurers in dealing with the impact of climate change on their balance sheets. "It is therefore possible that the
Bank of England Chief Economist Warns Against Extending Furlough Program
The Bank of England’s chief economist has thrown his weight behind the government’s controversial plan to let its wage-support program end, saying that prolonging it could delay the economy’s much-needed restructuring.
Bank of England tells insurers to step up climate change preparations
September 9, 2020LONDON (Reuters) – How much capital insurers must hold could be directly linked to their readiness to cope with risks from climate change, a senior Bank of England official said on Wednesday.BoE executive director Anna Sweeney said there is “still some way to go” for a number of insurers in dealing with the impact of climate change on their balance sheets.“It is therefore possible that the incentives to address climate change ri…
Bank of England's top economist warns against furlough scheme extension
The Bank of England’s chief economist has warned the government against extending the furlough scheme, arguing it will delay an “inevitable” shake-out of businesses hit by the Covid-19 pandemic. Andy Haldane said a “necessary process of adjustment” was under way and an extension of the job retention scheme beyond the 31 October deadline would only delay this process taking place. In a message that rejected concerns of spiralling unemployment...
