Pingdemic slows economic recovery

Pingdemic slows economic recovery

Covid recovery stalls

Shortages of goods began to take their toll on the UK’s economic recovery last month, as swathes of the workers had to self-isolate after getting pinged. Factors, building sites and shops have all struggled to maintain output. Construction companies reported two months in a row of declining activity and retail has seen footfall drop to around 75% of pre-pandemic levels as cautious shoppers stay away.

Furlough winds down

The furlough scheme will be scaled back from Sunday, with employers asked to make a bigger contribution to workers’ wages. There were 1.3 million people on furlough at the start of July, down from 5.1 million in January. The scheme is due to end for good on 30th September, after almost 18 months and £50 billion later.

Bunkers at the ready?

The UK and Ireland have made it into the top 5 countries most likely to survive a collapse of global civilisation. An academic study says we could see worldwide breakdown within a few decades. The best place to be? New Zealand, where billionaires are reportedly buying plots of land for their bunkers. But as fellow island nations in temperate zones, Iceland, the UK, Ireland, and Australia are good shouts too.