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News in Focus Tuesday 21 April 2020

“There is light at the end of the tunnel”

Thursday’s press briefing, hosted by also showed that the infection rate has hope on Friday and led to a welcome boost Foreign Secretary Dominic Raab, led to reduced to below one, meaning that every to global markets. Boeing’s announcement the outcome we had all been expecting: infected person is passing the disease on to that it would resume production of lockdown will be continuing for at least less than one other person. commercial jets also boosted sentiment, three more weeks. Mr Raab said that the Coronavirus Job Retention Scheme helping lessen the impact on markets of government must see evidence of five Q1’s 6.8% decline in Chinese GDP. Despite criteria before the lifting of lockdown extended until June Friday’s press conference saw Rishi Sunak, a deal agreed by the Organization of the could be considered: the Chancellor, announce the extension Petroleum Exporting Countries and other • The NHS must be able to cope and of the furlough scheme until the end of producers to cut output, oil prices have provide sufficient care June – a deadline that could be pushed remained weak. back further “if necessary”. The scheme • Evidence showing a sustained and reimburses struggling employers for 80% The International Monetary Fund also consistent fall in daily death rates of their employees’ salary costs, up to a cap revised its response to the crisis on Friday, saying: ‘Assuming the pandemic fades in the • Reliable data showing the rate of infection of £2,500 per month. He said, “It is vital for is decreasing to manageable levels people’s livelihoods that the UK economy gets second half of 2020 and that policy actions up and running again when it is safe to do so, taken around the world are effective in • Ensuring the supply of tests and Personal and I will continue to review the scheme so it is preventing widespread firm bankruptcies, Protective Equipment (PPE) could meet supporting our recovery.” extended job losses, and system-wide financial future demand strains, the Fund projects global growth in 2021 A “complex process” to rebound to 5.8%. This recovery in 2021 is • Confidence any adjustments will not The government remains under fire for trigger a second peak. failing to provide sufficient protective only partial as the level of economic activity equipment for frontline workers. Despite is projected to remain below the level we had To explain why the extension of lockdown projected for 2021, before the virus hit.’ measures was so important, he stated: the thousands of items of PPE currently on their way to the UK, there are still significant “Our message to the British public, is there is Golden oldie issues with supply. In light of this situation, light at the end of the tunnel, we are making 99-year-old veteran Captain Tom Moore progress, but at the same time, we must keep Public Health England has issued updated guidance on PPE use. took his place as a true national hero this up the social-distancing measures. And there week, raising over £25m in public donations have been all sorts of challenges…with this Friday’s daily briefing saw Business for the NHS by completing 100 laps of coronavirus crisis. But one of the things that Secretary, Alok Sharma, take to the podium. his garden before he reached his 100th we’ve seen is the country pull together, follow He announced that a Vaccine Taskforce birthday. In recognition of his dedication pretty consistently the guidance, and that would be established to accelerate, and patriotism, the Yorkshire native has is one of the reasons that we’ve made the expedite and coordinate the production been invited to be guest of honour when progress that we have.” of a vaccine against the virus. This would, the new NHS Nightingale Hospital in he argued, place the UK at the vanguard Some positive indicators are beginning of international clinical vaccine testing and Harrogate opens its doors this week. to be glimpsed beneath the sad news of manufacturing. Still, Mr Sharma said it the UK’s still-increasing death toll and the We’re here for you would be a “complex process which will take shattering grief experienced by those who Our measured, considered approach to many months.” have lost loved ones. Hospitalisations are financial advice could really help you gain down in some parts of the country, while Economy and markets control over your finances during these the curve is clearly flattening as social Donald Trump’s three-point plan to reopen difficult times. Just get in touch for clear, distancing measures take effect. The data the US economy gave investors renewed comprehensive guidance.

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