LONDON, December 27 (EFE) .- Support schemes for companies to cope with the economic slowdown caused by COVID, the implementation of the Brexit agreement and the increase in interest rates are some of the issues that have focused on economic news. of the United Kingdom in 2021.
Support scheme for companies due to COVID
The British government put on hold, until the end of September this year, a plan to help companies similar to ERTE in Spain to cope with the economic downturn that has led to a prison sentence imposed by the authorities to stop the spread of covid Was. -19 in the UK.
Under the scheme, Economy Minister Rishi Sunak offered to pay up to 80% of employees’ wages to avoid mass layoffs and social chaos.
increase in interest rates
The Bank of England raised interest rates in the United Kingdom in December from a historic low of 0.1 to 0.25%, the first increase in more than three years, to more than 5%, with the aim of slowing the rise in inflation.
The bank reduced rates to 0.1% in March 2020 as a measure to combat the pandemic, and the December 2018 increase was the first since August 2018 (when they stood at 0.75%) and the third since the 2008 crisis.
Stock-out problems and labor shortages
In September, the UK faced a supply crisis caused by a long shortage of carriers, but one that had a particular impact on petrol stations, as they quickly ran out of fuel, with a ripple effect on the British economy.
Labor shortages, caused by the departure of community workers after Brexit, affected various British sectors, including agriculture, transport or energy. Some farmers decided to reduce their crop by 2022.
After months of difficult and complicated negotiations, the United Kingdom and the European Union (EU) began 2021 with a Brexit deal, agreed on Christmas Eve 2020, between the two sides following the British exit from the European Union. Marks future relationships.
The treaty establishes free trade in goods and limited reciprocal access to markets for services, as well as cooperation mechanisms in various fields, but problems remain due to the signing of the so-called Northern Ireland Protocol, which is designed to avoid physical limits. has gone. Two Irish and British provinces were opposed by pro-British Protestants.
Imprisonment and Vaccination
In early 2021, the British government imposed a population lockdown due to the spread of the alpha variant, which was first detected in the county of Kent in south-east England, and was thought to be highly contagious.
While citizens had limited movement, the country was ramping up its vaccination program against the coronavirus, vaccinating the elderly and vulnerable with preparations from Pfizer or Oxford/AstraZeneca.
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