Coronavirus to cost kids £350bn?

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£350bn lost earnings

Children could miss out on £350 billion in lost earnings because of not being in school. The Institute for Fiscal Studies (IFS) says that missing 6 months of school could mean kids earn £40,000 less on average over their lifetimes. It suggests ways for students to catch up including repeating the entire year, tuition during the holidays, and longer school days.

More protection for investors?

MPs are calling for better protections for novice investors*, after some have been burnt by the GameStop saga. Thousands rushed to join the fray after a group of day traders organised over Reddit to drive up the game retailer’s share price. But it soon went into reverse after investment apps prevented people buying further GameStop stocks.

ASOS buys Topshop

Asos has struck a deal to buy Topshop, Topman, and Miss Selfridge for £295 million. We’ll soon see them disappear from the high street though - the online retailer isn’t taking on any of the brands’ 70 stores, which employ 2,500 people.

Christmas credit spree

Shoppers spent a record amount* using buy-now-pay-later (BNPL) schemes over Christmas. The average spend was £211, and in a survey 1 in 3 people said the option to pay later meant they spent more than usual.

No HMRC fines

Not filed your tax return? Don’t panic. HMRC has waived the £100 fine for missing yesterday’s self assessment deadline, as so many people were struggling to meet it. You now have until 28th February to file your self assessment.