Government borrowing has surged to its highest level on record, underlining the scale of the economic damage caused by the coronavirus pandemic.
The deficit, the difference between government spending and tax receipts, soared to more than £62 billion in April, due to the level of financial support provided by the Treasury, to help businesses and employees through the crisis.
The hole in the government finances wasn’t helped by a big drop in retail sales. They plummeted by a record amount in April, as many high street stores closed in the coronavirus lockdown. Clothing sales were hit hardest, down more than 50 per cent, although online spending online rose.
The company which owns the coach firm Shearings has gone into administration. The Specialist Leisure Group, which is based in Wigan and employs more than 2,500 people also runs the brands UK Breakaways, Caledonian Travel and Country Living Hotels.
Clive Myrie presents BBC News at Ten reports from Economics Editor Faisal Islam, Business Correspondent Emma Simpson and Judith Moritz in Wigan.
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In This Story: Islam
Islam is an Abrahamic monotheistic religion teaching that Muhammad is the final and ultimate messenger of God. It is the world’s second-largest religion with 1.8 billion followers or 24.1% of the world’s population, known as Muslims. Muslims make up a majority of the population in 49 countries.
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In This Story: Lockdown
During the 2020 Covid-19 epidemic, lockdown has come to mean the practice of attempting to control transmission of the virus by means of restricting people’s movement and activities on a broad scale, usually on a national or state-wide basis.