{"componentChunkName":"component---src-templates-post-js","path":"/record-peacetime-borrowing/","result":{"data":{"ghostPost":{"id":"Ghost__Post__608285eefcd600003bbc8382","title":"Record peacetime borrowing","slug":"record-peacetime-borrowing","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2021/04/430.png","excerpt":"Plus: March shopping spree, coronavirus passports for foreign travel.","custom_excerpt":"Plus: March shopping spree, coronavirus passports for foreign travel.","created_at_pretty":"23 April, 2021","published_at_pretty":"23 April, 2021","updated_at_pretty":"23 April, 2021","created_at":"2021-04-23T08:31:42.000+00:00","published_at":"2021-04-23T08:34:47.000+00:00","updated_at":"2021-04-23T08:34:47.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Annie Mellor","slug":"annie","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#blog","slug":"hash-blog","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get all the money news plus expert adviser views.\n\nBorrowing hits new high\nThe government borrowed £303.1bn in the year to March\n[https://www.bbc.co.uk/news/business-56856195], according to the Office for\nNational Statistics. That’s the highest since the Second World War. It has\nneeded to borrow to support the economy through the coronavirus crisis and make\nup for lower tax incomes caused by the recession. The director of the Institute\nfor Fiscal Studies says the debt figures are actually lower than expected.\n\nShopping spree\nBrits went on a spending spree ahead of lockdown restrictions easing - retail\nsales rocketed 5.4% in March\n[https://www.reuters.com/business/retail-consumer/uk-retail-sales-jump-54-march-far-more-than-expected-2021-04-23/]\n. Economists had expected a rise of just 1.5%. Clothes shops did particularly\nwell, as shoppers rushed out to refresh their wardrobes ahead of pubs and\nrestaurants reopening. The extra activity was mainly online, as non-essential\nshops didn’t open their physical doors until 12th April.\n\nCoronavirus passports\nPeople in England could have access to coronavirus passports by 17th May\n[https://www.theguardian.com/world/2021/apr/22/people-in-england-could-get-covid-passports-for-foreign-travel-by-17-may] \nto allow them to take a holiday abroad without needing to quarantine. The\npassports would prove if you’ve had a coronavirus vaccine. They’re different to\nthe domestic certificates which we might need to show to get into pubs and\nrestaurants - that’s a separate scheme.\n\ni","html":"

The 1-minute read to get all the money news plus expert adviser views.

Borrowing hits new high

The government borrowed £303.1bn in the year to March, according to the Office for National Statistics. That’s the highest since the Second World War. It has needed to borrow to support the economy through the coronavirus crisis and make up for lower tax incomes caused by the recession. The director of the Institute for Fiscal Studies says the debt figures are actually lower than expected.

Shopping spree

Brits went on a spending spree ahead of lockdown restrictions easing - retail sales rocketed 5.4% in March. Economists had expected a rise of just 1.5%. Clothes shops did particularly well, as shoppers rushed out to refresh their wardrobes ahead of pubs and restaurants reopening. The extra activity was mainly online, as non-essential shops didn’t open their physical doors until 12th April.

Coronavirus passports

People in England could have access to coronavirus passports by 17th May to allow them to take a holiday abroad without needing to quarantine. The passports would prove if you’ve had a coronavirus vaccine. They’re different to the domestic certificates which we might need to show to get into pubs and restaurants - that’s a separate scheme.

i
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