Finance

UK Economic Response Plan Amid Work from Home Directive

Amid the ongoing Covid-19 pandemic, the UK government, led by Boris Johnson, has unveiled a comprehensive economic plan as it urges people to work from home and restrict non-essential travel, particularly in London. Foreign Secretary Dominic Raab has emphasized the importance of this guidance, suggesting that people should avoid all global travel for at least the next 30 days.

Raab acknowledged the need to keep this advice under review but stressed that certain industries, such as shipping and haulage, are considered essential. The government is committed to working with these sectors to ensure thatsa`JV travel continues while safeguarding the well-being of workers.

Even automaker Volkswagen (VW) temporarily shut down its factories for two weeks due to uncertainty surrounding the demand for cars and parts amidst the outbreak. Moreover, local drop-in restaurants, which depend on regular business, are facing challenges as the pandemic has led to empty tables and decreased customer traffic.

In addition to these developments, Euro 2020 has been postponed, as announced by the Norway Football Association. The Formula One season has been disrupted, with the cancellation of the opening four races, and the future of the sport remains uncertain, as outlined in an open letter from Formula One’s chief executive and chairman, Chase Carey. Major airports, including Heathrow and Gatwick, have written to Boris Johnson, requesting government support for the aviation industry, emphasizing that they may need to close completely.

The government is set to announce a rescue package to support businesses that are at risk of collapse due to the Covid-19 outbreak, focusing on sectors such as airlines and pubs. Despite many industries in England temporarily closing due to the pandemic, the courts will continue to function. The Crown Prosecution Service has affirmed that the criminal justice process will remain operational. Boris Johnson has recommended applying a curfew and emergency legislation to provide police with the authority to detain individuals suspected of being infected. Additionally, Rishi Sunak, the Chancellor, is expected to unveil emergency financial measures to stabilize the economy.

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