Wednesday, 2 September 2020

Politics latest news: Economic recovery may not come for years in some sectors, warns minister

Politics latest news: Economic recovery may not come for years in some sectors, warns ministerRaab ready to fight aid budget cuts as Dfid disappears Cummings and his team move to the Cabinet Office as part of shake-up UK warns Brexit deal will 'not be easy to achieve' before deadline Coronavirus latest news: Follow updates in our daily live blog Summer sale: Save 50% - Just £1 a week for 6 months The coronavirus recovery may not come for years in some sectors, a minister has warned, as the country heads back to work and school in an attempt to stimulate the economy. Therese Coffey, the Work and Pensions Secretary, said some sectors may take two or three years to recover, and furloughed workers in those industries may be better to look for jobs elsewhere. "If you think about things like the aviation industry, and I don’t just mean people going on holiday, there are different dynamics there," she told Times Radio. "And for some of those people, it may be that that sector doesn’t fully recover for another two or three years. "So in the meantime we want to help people keep in work." Ms Coffey refused to disclose Department of Work and Pensions unemployment estimates, but a former Bank of England economist yesterday suggested the figure could be as high as 7.5 per cent. Her comments come as the Government launches its back-to-work drive in an attempt to resuscitate the UK economy. Follow the latest updates below.




source https://news.yahoo.com/politics-latest-news-economic-recovery-195304492.html

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