“The defence of the realm must come first,” the PM says as he increases military spending by 10%.
Mr Sunak has warned that unemployment could rise to 2.6m by the middle of next year. Meanwhile, the Resolution Foundation think-tank has warned that the Covid-crisis could dent average pay packets by £1,200.
On a salary of £150 and supplied with £5,000 in credit, Mr Trotter set up on Clydeside as a dealer in bills of exchange, intending to put the Glasgow banks under pressure with his demands for collateral coinage. The Glasgow bankers, writes Perman, quickly realised...
"The Covid crisis is causing immense damage to the public finances, and permanent damage to family finances too, with pay packets on track to be £1,200 a year lower than pre-pandemic expectations," warned Torsten Bell, chief executive of the Resolution Foundation.