Rolling coverage of the latest economic and financial news
UK chancellor Nadhim Zahawi has said nothing is off the table, as the Government assesses how to deal with rising energy prices.
Speaking to Sky News, Mr Zahawi said the government is “looking at all the options”, and acknowledged that ‘perfectly' viable’ businesses are at risk of collapse:
“Everything from the chief executive of Scottish Power talking about help where we need to maybe create some sort of a fund for companies to be able to continue to help their customers.
All the way through to making sure we target the help to both households and small and medium-size businesses and probably some larger businesses, because one of my concerns is the scarring effect on the economy if perfectly viable businesses in hospitality, in leisure, in high-energy use businesses would actually suffer or no longer exist because of Putin’s use of energy as a weapon.”
Philip Shaw, chief economist at Investec in London, said sterling’s rapid fall was “very worrying” as it reflected concerns that if Truss were named prime minister, her government’s policies would diverge from the BoE [Bank of England].
UK government bonds have also sold off this month more aggressively than the debt of other large European peers such as Germany.
Continue reading...from The Guardian https://ift.tt/gXClEJW
0 comments:
Post a Comment