Incredible numbers directly impacted by the state in past year
Quantitative example from Bank of England who reported impact from ONS survey of two jabs - over 80s thinking there was a “major risk” personally fell from 50% pre vaccination to 5% after two jabs…
difficult to imagine precedents of Govt interventions with such direct impacts
for context on those 13m wages /self employments taxpayer-paid in past year c/w 26.8m private sector jobs…
ordinarily about 7m working age recipients of benefits/state support. These won’t overlap fully with above.
many millions received in work state support for first time
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As we await the Bank of England’s new forecast and policy decisions - furlough statistics released this morning show use of the job retention scheme still high, but down just ahead of lifting of lockdown at end March - 4.2 million. Cumulative £61.3bn spent supporting wages.
Bank of England: “GDP is expected to rise sharply in 2021 Q2” and recover to pre Covid levels over the remainder of this year “absent restrictions”...
Outlook remains uncertain.
Policy unchanged
Lost pandemic output now forecast to be made up within 2021, says Bank of england:
Extraordinary development that the US is now backing a pandemic waiver on vaccine patents - the WTO boss warned in an interview with me of “unacceptable iniquities” in spread of vaccines...
Biden’s trade Rep Tai has been seeing vacc makers - presumption was that the threat of a patent waiver was mainly a form of leverage... Tai raised issue in a bilateral with UK Trade Sec Truss last month highlighting “need to support production equitable distribution of vaccines”
In March my colleague @deb_cohen obtained the draft of discussions at WTO showing US, UK and Swiss pushing back against the efforts of India and South Africa - we discussed extensively on Newsnight - see this thread:
NEW: Fishing groups decry failure to strike 2021 deal with Norway as a “disgrace” & “disaster”. UK Fisheries group say Government was “unable even to maintain the rights we have had to fish in Norwegian waters for decades”.
Say Norway will continue to export cod here tariff free
Defra confirms:
“We put forward a fair offer on access to UK waters and the exchange of fishing quotas, but we have concluded that our positions remain too far apart to reach an agreement this year.”
Operator of the UK’s biggest fishing vessel, currently in dock in Hull, suggests it may have done its last catch, and that all cod will have to be imported now, after failure to secure deals (apart from Svalbard) in waters fished routinely last year
Defra Committee cross party MPs release bruising report on “considerable trade friction” & “substantial” new red tape leading to “substantive & enduring” post Brexit costs for food exporters.
- Flatly contradicts in line 1, PM’s assertion of “no non tariff barriers”.
* Report calls for Govt to re-enter discussions with EU to lower new burdens on exporters through veterinary partnership. Says it wasnt achieved by Lord Frost’s negotiation “in part because Govt did not place sufficient priority on it resulting in creation of non-tariff barriers”
* the consequence so far of the non tariff barriers for food exporters, the MPs report says is not just “teething problems” but “imposing enduring costs” which may result in big business “shifting processing to the EU” and smaller businesses finding such exports “unviable”.
Subpostmasters have their names cleared at High Court after incredible and awful Horizon IT scandal... bbc.co.uk/news/business-…
Hits home this one - my Dad was a subpostmaster, was pressurised enough with all risk piled on to small biz owners, & PO having veto on selling up... we just swerved Horizon -
the stories of honest hard working community servants criminalised by IT incompetence are just awful.