Fresh measures needed to prop up UK economy, Bank official says


Michael Saunders warns ‘sweet spot’ caused by massive fiscal support is coming to an end

Fresh action will be needed to support Britain’s economy as it emerges from a temporary sweet spot caused by massive government financial support and the lifting of lockdown restrictions, a Bank of England policymaker has said.

Michael Saunders, one of the nine members of Threadneedle Street’s interest rate-setting monetary policy committee, said he expected unemployment to rise rapidly as the Treasury scaled back its help and more people started to look for work.

Costa Coffee – 1,650 jobs
3 September: The company, which was bought by Coca-Cola two years ago, is cutting up to 1,650 jobs in its cafes, more than one in 10 of its workforce. The assistant store manager role will go across all shops.

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