Following on from last week’s opening of some non-essential businesses, it is likely that Boris Johnson will announce a relaxation of the 2-metre social distancing rule tomorrow. This should pave the way for a potential reopening of the hospitality sector from the 4th July. Whilst the recommencement of the Premier League has been met with mixed…
One of the things I’ve done during lock down is clear through my filing cabinet in my office at home and whilst doing so I came across one of my first payslips.
A grand total of £1,035.85 after tax. I distinctly remember thinking how an extra £500/m would feel and how ‘rich’ I would be.
Needless to say that in that time our lifestyle has drifted.
Sometimes deliberately such as having two children, a few house moves and at other times through lifestyle drift.
Even simple things like TV subscriptions. In 2008 we add no Netflix, no Amazon Prime, no Dinsey Plus, no Sky TV.
When it comes to Financial Planning though there a 3 types of drift that are near fatal to your financial planning and each for very different reasons.
It has been 84 days since lockdown in the UK was announced in which we have seen a period of great change and an immediate shift to our lifestyles. We have seen just over a quarter of the UK‘s working population supported by the Government’s furlough scheme with its estimated cost currently sitting at £19.6bn. As non-essential businesses begin to re-open their doors today, we appear to be getting closer to a state of normality. Boris Johnson has suggested that the two-metre social distancing rule could be relaxed as the hospitality sector prepares to reopen from 4th July.
Markets are reacting to the ambiguous outlook, reflecting the current macroeconomic uncertainty and unclear guidance on the next phase of combating the virus.
Uncertain remains for the short term and we are not out of the woods by any stretch and so a careful and evidence based approach to investment management remains prudent.
Recent weeks have seen various dire predictions for the state of the UK economy following the coronavirus crisis.
But how bad could things get for UK plc?
According to a new study, the size of the UK economy could shrink by 20% *if* the lockdown remains in place for a year.
Tensions are running high. The balance between keeping economies locked down in order to protect the health services, and the desire to loosen lockdown measures in order to lessen the long-term impacts, is coming to a head.