How low will confidence go?

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.

Consumer confidence is low

The latest figures show consumer confidence has taken a hit in April, falling to minus 34. The index measures the general economic situation and how we’re all feeling about it, and it’s showing we’re not far off the record low of 2008. However, there are also signs we’re adjusting to life under lockdown; confidence hasn’t fallen any further since it was last measured on 6th April.

Guaranteed loans for small businesses?

Small and medium sized businesses are struggling to get access to emergency credit promised by the government to help them ride out the pandemic. The government is considering making it possible for small firms to get risk-free loans of up to £25,000 that are 100% backed by the government. The chancellor is expected to announce the details next week.

No rent arrears

Commercial landlords have been banned from demanding rent arrears. The move is designed to protect shops and other businesses which have been forced to close and aren’t taking any income. The ban is in place until 30th June, and should help to make sure our favourite high street haunts are waiting for us when lockdown is lifted.