Coronavirus crisis: govt borrowing hits record level – BBC News
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.
Please subscribe HERE http://bit.ly/1rbfUogDisclaimer:We do not allow users to post content which is copyright and We take strict actions against the users who post infringement content on our website.Although we do not host any content, users post embed videos from youtube, facebook, Dailymotion and Vimeo and are moderated before posting but we still take strict action against the copyright videos posted.If you are an official representative of any company whose videos are posted illegally on our website or you think some video infringe the copyright then you can simply send an email to firstname.lastname@example.org