Sunak damps hopes of big UK tax cuts

Rishi Sunak will put jobs at the heart of his set-piece economic statement next week as he tries to avert a post-coronavirus catastrophe, but he has told Tory MPs not to expect big tax cuts to boost the economy.

The chancellor’s attempt to manage expectations over fiscal stimulus measures came as Boris Johnson disappointed business leaders by confirming that the government would phase out the job retention scheme by October.

As the economy opened up, furloughed workers were simply being kept in “suspended animation”, the prime minister said in an interview with London’s Evening Standard.

Mr Sunak’s statement will mark a shift in his coronavirus strategy from a support phase, where the government “wrapped its arms around the UK economy”, to a stimulus phase, where it encourages households and companies to spend as normally as possible.

During the pandemic, the chancellor has sought to play down expectations before announcing more

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Coronavirus: Accenture cuts up to 900 UK jobs due to ‘additional strain’ | Business News

Accenture is to cut up to 900 UK jobs blaming “additional strain” on the business caused by the coronavirus crisis.

The US-owned consultancy firm, which has offices in London, Manchester, Newcastle and Edinburgh, is the latest business to take an axe to its workforce because of the pandemic.

Thousands of cuts have been announced in recent days by companies ranging from Upper Crust owner SSP to aeroplane maker Airbus.







Unemployment rockets due to coronavirus

The job losses at Accenture will see between 700 and 900 go.

In a note to staff, first reported by the Guardian, the company said: “We went into the crisis with an overcapacity of people relative to demand.

“The crisis has caused additional strain on the business due to lower demand and reduced natural attrition.

“In addition, we have identified structural costs that we need to address.”

Costs have already been reduced by cutting travel

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Food retailer SSP adds to mounting UK job losses as it cuts 5,000 posts

Up to 5,000 jobs will be cut in the UK by SSP Group, the travel food retailer behind outlets such as Upper Crust and Caffè Ritazza, spelling further pain for British workers as companies continue to fight for survival in the pandemic.

The axing of more than half the UK jobs at SSP comes as the air travel industry has virtually shut down and passenger numbers at railway stations have dropped 85 per cent compared with last year. 

Airbus overnight warned that it would cut 15,000 jobs — with 1,700 positions in the UK alone. EasyJet said it could cut as many as 727 pilot jobs in the UK as well as potentially close bases at Stansted, Southend and Newcastle airports. In May the airline said it would axe up to 30 per cent of its workforce, equivalent to about 4,500 jobs.

Job cuts were also revealed across the high

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Coronavirus: Upper Crust owner SSP to announce 5,000 UK job cuts | Business News

The grim toll of coronavirus-related job losses will rise again on Wednesday when the company behind the Upper Crust catering brand discloses plans to make more than half of its UK workforce redundant.

Sky News has learnt that SSP Group, which has seen its revenues decimated by the impact of the pandemic on international travel, will unveil plans to axe up to 5,000 jobs in a statement to the London Stock Exchange.

Insiders said the cuts would be spread across SSP’s British operations, and could impact 55% of the 9,000-strong workforce employed by SSP during the peak summer period.

The savage scale of the potential restructuring underlines the fact that travel industry revenues have not yet begun to recover in a meaningful way since the end of the UK-wide lockdown, with major airports barely functioning because of the government’s 14-day quarantine policy.

About 850 of SSP’s sites, which include those

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