Boris’s post-Brexit Budget

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

UK Budget uncertainty

Sajid Javid’s successor, Rishi Sunak, has just 3 weeks to produce a budget that has already been delayed. Boris Johnson promises that it will bring a new dawn of spending - changes to tax, pensions, housing and social care have been mooted, as well as increased spending in the north of England.

Down on one knee

Struggling high street retailers are looking to cash in on Valentine’s Day. Poundland has already sold 40,000 engagement rings this year - the £1 rings are meant to be used as “placeholders”. Last year, the UK spent £853m last year on Valentine’s Day, which was up 7.8% from 2018, however some analysts say retailers are becoming too reliant on promotional events, using them all year round.

JCB takes a sick day

The coronavirus outbreak has caused a shortage of parts coming from China. As their economy grinds to a halt, it’s disrupting supply chains of manufacturers around the world. British digger maker, JCB, has responded by reducing working hours for their 4,000 employees. Other industries have been impacted too - flight cancellations, retail store closures, and a reduced demand for oil in China, has the EU worried about global growth.