Business and Economics

Calls for action mount as M&S job cuts brings retail tally to more than 41,000

If a “typical” free trade agreement is struck with Brussels, the Office for Budget Responsibility predicted a 5.2 per cent loss of potential GDP over the next 15 years after Brexit.

Experts expect the Office for National Statistics to confirm a mammoth 21% fall in GDP between April and June.

Around 300,000 people in the UK were away from work last month without pay due to the pandemic.

The average amount of applications per job has also increased by 47.2 per cent in the past 12 months.

Cabin crew, engineers and airport staff are among those receiving letters from the airline telling them whether or not they are being made redundant.

Analysts also said the central bank could increase asset purchases later this year to deal with the impact of the virus.

It is projected that the airline’s cash flow would drop to ‘critical levels’ by the middle of next month without an injection of cash.

Chief executive Alex Cruz will give evidence to the Transport Select Committee on September 16.