Boris Johnson has announced a spending spree and a new “opportunity guarantee” to help the economy cope with the “aftershock” of the coronavirus crisis.
The Prime Minister acknowledged that jobs which existed at the start of the pandemic may be lost forever but said the new guarantee would ensure placements or apprenticeships for young people.
Mr Johnson promised his response would not be a return to the austerity that followed the financial crisis, but instead a stimulus package inspired by US president Franklin D Roosevelt, who led America out of the Great Depression with his New Deal in the 1930s.
Boris Johnson has promised an infrastructure spending blitz to revitalise the battered UK economy in the wake of the coronavirus pandemic.The Prime Minister said he is preparing for an effort comparable to Franklin D Roosevelt’s New Deal following the Great Depression in the US in the 1930s.
Credit: PA - Press Association STUDIO Duration: 00:44Published
Labour leader Sir Keir Starmer called on Boris Johnson to apologise for his comments on care homes.Sir Keir said: “On Monday, when asked why care home deaths had been so high the Prime Minister said, and I quote, ‘too many care homes didn’t really follow the procedures in the way that they could have’.“That has caused huge offence to frontline care workers. It has now been 48 hours. Will the Prime Minister apologise to care workers?”Mr Johnson replied: “The last thing I wanted to do is to blame care workers for what has happened or for any of them to think that I was blaming them because they’ve worked hard, incredibly hard, throughout this crisis, looking after some of the most vulnerable people in our country and doing an outstanding job.”“And as he knows, tragically, 257 of them have lost their lives.“And when it comes to taking blame, I take full responsibility for what has happened.”
Credit: PA - Press Association STUDIO Duration: 01:32Published
Prime Minister Boris Johnson evaded questions from Labour Leader Sir Keir Starmer over reports that free parking for hospital staff will soon end. Report by Browna. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
According to Business Insider, research shows that Americans who work for themselves report high levels of happiness and satisfaction. And considering the US now has a higher rate of unemployment than during the Great Depression, perhaps it's time to think about creating your own job. If you're thinking about starting your own business, the first thing to do is to get started. Think about what you want to do or sell, and if there's a market for it.
The COVID-19 Pandemic has cratered the global economy. U.S. consumers reduced spending by the most on record for the second straight month in April. Reuters reports that savings is at an all-time high. Economists anticipate the largest contraction in gross domestic product in the second quarter since the Great Depression of the 1930s. The data this month has been dismal on the labor market, manufacturing production and homebuilding.
The US unemployment rate jumped to 14.7% in April. It's the highest it's been since the Great Depression. According to Business Insider, the April jobs report shows that more than 20 million jobs were lost in a single month. Losing a job is frightening for anyone, but particularly for foreign workers who are in the US on an H-1B visa. Laid off foreign workers have 60 days to come up with a formal reason for staying in the US. If the reason isn't accepted, the worker must leave.