Business News Round Up (21/09/2020)
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Nearly 80,000 workers used flexible furlough in July in Scotland
Nearly 80,000 workers in Scotland returned to their jobs part-time in the first month flexible furlough was introduced, statistics published today by HM Revenue & Customs show. Flexible furlough began on the 1st July to give businesses the flexibility to bring employees back part-time, whilst the government still pays 80% of wages for the hours not worked. A total of 78,400 workers went back to offices, shops, restaurants, and factories to work on a part-time basis. At the height of the pandemic, 1.85 million employments in the UK retail and wholesale sector were furloughed, but today’s figures show that number dropped to 789,000 by the end of July with more than a million people off furlough.
https://scottishbusinessnews.net/nearly-80000-workers-used-flexible-furlough-in-july-in-scotland/
North West manufacturers recover from worst of pandemic – but fears remain over no-deal Brexit and second lockdown
Manufacturers in the North West have begun to recover from the worst impact of the pandemic – but there could be further damage to come with a potential no-deal Brexit and second lockdown on the cards. A major survey published today by Make UK and business advisory firm BDO has revealed that balances for orders and output in the North West were reported at -29% and -6% respectively. Make said it represented a “significant improvement” on the last quarter with the figure for output in particular some way ahead of the national picture. However, given the uncertainty surrounding the Brexit negotiations and the very real possibility of ‘no deal’, the combination of that outcome with the continued impact of the pandemic could cause further damage to investment prospects in the latter part of the year.
https://www.business-live.co.uk/manufacturing/north-west-manufacturers-recover-worst-18968353
Major industry survey reveals impact of Covid-19 on UK real estate
42% of industry leaders say they are pessimistic about the outlook for the UK real estate market (with 34% neutral), compared with 31% in 2019 and 24% in 2018, according to a major new industry survey of senior real estate leaders, corporate office occupiers and global institutional investors by international law firm CMS exploring the impact of Covid-19 on UK real estate and priorities for the sector as it moves beyond the pandemic. To put that in context with the impact of major events on industry sentiment, following the outcome of the Brexit referendum in 2016, 63 per cent of respondents to the same question said they were pessimistic about the outlook for the UK real estate market.
£70m to be invested in improving Scottish waste and recycling infrastructure
The Scottish Government has earmarked £70 million to boost green economic growth. As part of the economic recovery after coronavirus, the government has set aside the money for improved waste and recycling infrastructure. The investment is one of a number of initiatives planned to help increase recycling and build a “circular economy”. These include Scotland’s Deposit Return Scheme which is expected to capture 90% of single-use aluminium and steel cans, glass and plastic bottles, and the introduction of legislation to increase the minimum price of carrier bags from 5p to 10p.
https://www.insider.co.uk/news/70m-invested-improving-scottish-waste-22715587
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