Eco­nomic week ahead

The Daily Telegraph - Business - - Business -

Chan­cel­lor Rishi Su­nak’s pump­prim­ing of a Covid-blighted econ­omy pushed the na­tional debt past the £2 tril­lion mark for the first time in July and more of his largesse will be present in Fri­day’s fig­ures.

Au­gust saw the £500m Eat Out To Help Out scheme sub­sidise more than 100m meals and the bill is likely to rise fur­ther as cafes and restau­rants have un­til the end of the month to claim. A big­ger im­pact than his din­ing gen­eros­ity is the sec­ond tranche of sup­port for self-em­ployed work­ers, which hit bank ac­counts in Au­gust. Though the re­open­ing of the econ­omy is likely to have brought in at least some tax rev­enues, econ­o­mists at In­vestec still ex­pect bor­row­ing of at least £40bn in a sin­gle month as the spend­ing spree con­tin­ues.

Andrew Bai­ley, Bank of Eng­land Gov­er­nor, may drop more hints to­mor­row over neg­a­tive rates at a Bri­tish Cham­bers of Com­merce we­bi­nar, but oth­er­wise it is a quiet week for of­fi­cial data.

More timely pur­chas­ing man­ager sur­veys for Septem­ber could paint a more wor­ri­some pic­ture of the im­pact of Covid.

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