Briefing on Sector
In a “spectacular” £ 1 billion building that has been up and running since the beginning of the year, a Glasgow restaurant family unveiled its first venture in the Scottish capital this week in the Monday Interview.
Danielle Fleming and sibling Ryan Dexter are recruiting 50 employees for the St. James Quarter’s new Salerno Pizza restaurant, a prominent location next spring in the big shopping, dining and leisure development, after Father Alan helped steer their ambitious project. When the pandemic hit, they had just closed the deal.
On Monday, “We have a niche focus on innovative and high-growth start-up and scale-up companies in the technology, life sciences and engineering sectors. The technology sector in Scotland has boomed during the lockdown, bucking the economic trend. We are extremely proud of our client base, which includes some of the most innovative investor-backed companies in Scotland and beyond.” Lisa Thomson, of Purpose HR, tells Mark Williamson’s SME Focus. During the lockdown, the technology sector in Scotland has boomed, bucking the economic trend. We are extremely proud of our customer base, which includes some of the most innovative inventions.
“Of the uncertainties this year has thrown up, the one I expected to be clear by now was Brexit …”Of the uncertainties that have emerged this year, the one I expected to be clear by now was Brexit…
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It is expected that official figures will show a spike this week in UK government borrowing.
In November, the Office for National Statistics (ONS) will announce the scope of borrowing and the current state of the U.K. Deficit in a Tuesday, Dec. 22 update.
The company reported a reduction in monthly debt to 22.3 billion pounds in its latest October report.
Economists have, however, forecast that greater economic support to cope with tighter coronavirus controls and lockout measures has intensified the burden on the finances of the public sector.
Investec analysts have estimated that in November, public sector net borrowing will grow to £ 31.4 billion, around £ 26 billion more than in the same month last year.
“While the figures for this year look daunting, the lion’s share of the increase in borrowing compared to last year represents the direct costs of the various stimulus measures,” the Investec analysts said.
They said that the figures for November are likely to be helped by a rise in the take-up of the “vacation scheme” which was extended past October and will now run until April 2021.
On Thursday, HMRC said that between Nov. 15 and Dec. 13, a further £ 3.4 billion worth of claims had been made, bringing the total to £ 46.4 billion and 9.9 million workers on leave.
Investec said that whilst borrowing is likely to be reduced by the expiry of the initiatives, they still expect the chancellor to resolve fiscal sustainability issues with ‘a selected rise in taxes at some point.’
So far this fiscal year, on average, borrowing grew by 24.2 billion pounds compared to the same month last year.
If this rate of borrowing persists, the U.K. For the full 2020-21 year, the deficit will hit £ 346 billion, while the Office for Budget Responsibility (OBR) in its expenditure review expected £ 394 billion, underscoring that borrowing could increase.
Russ Mould, AJ Bell’s investment officer, said, “This all raises the question of how to fund the deficit.”
By holding interest rates at historic lows and manipulating government bond yields through its quantitative easing program to try to limit them, the Bank of England is doing its part.
“As a result, the OBR expects the interest cost on government debt as a percentage of GDP to fall in the future.”