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Borrowing hits peacetime high

Extract from Redwood Financial’s Economic Review April 2021 The latest public sector finance statistics have once again highlighted the enormous cost of government measures to support the economy through the pandemic. Figures released by ONS revealed that UK public sector net borrowing (the gap between the country’s overall income and expenditure) totalled £303bn in the…

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Retail sales surge

Extract from Redwood Financial’s Economic Review April 2021 Official statistics show that retail sales volumes rose significantly in March, while survey evidence points to a further uplift in sales during April and May. According to the latest ONS data, retail sales volumes jumped by 5.4% in March, following the partial recovery that began in February.…

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Markets: Extract from Economic Review April 2021

Extract from Redwood Financial’s Economic Review April 2021. (Data compiled by TOMD) In the UK, the FTSE 100 closed April up 3.82%, a third consecutive monthly gain. The blue-chip index breached the 7,000-point marker for the first time in 15 months in mid-April. Optimism of a fast-paced recovery, positioned the index for its biggest monthly…

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Labour Market ‘Broadly stable’

Extract from Redwood Financial’s Economic Review April 2021 ONS has described the jobs market as “broadly stable in recent months,” after its latest set of statistics revealed a small decline in the number of employees on company payrolls, alongside a dip in the rate of unemployment. According to the latest data, 56,000 fewer people were…

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Stronger recovery predicted

Extract from Redwood Financial’s Economic Review April 2021 The UK economy returned to growth in February and survey evidence suggests a strong recovery is imminent, as lockdown restrictions ease and the vaccine rollout continues at pace. Data published by the Office for National Statistics (ONS) showed the economy grew by 0.4% in February, as businesses…

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Sense of urban revival

Extract from Redwood Financial’s Residential Property Review April 2021 Last year, the news was all about a desire to seek a fresh start in more spacious properties, open spaces and away from cities, as more people shifted to working from home. Whilst the demand for such locations shows no signs of slowing, there has been…

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Government launches 95% Mortgage Guarantee scheme

Extract from Redwood Financial’s Residential Property Review April 2021 The government-backed 95% mortgage guarantee scheme, originally announced in the Budget, was launched on 19 April, aiming to help first-time buyers or homeowners obtain a mortgage with a 5% deposit to buy a property of up to £600,000. The scheme offers lenders the guarantee they need…

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Spring sees the biggest ever housing market

Extract from Redwood Financial’s Residential Property Review April 2021 Growing optimism due to the vaccine rollout, the return of low-deposit mortgages and the Stamp Duty holiday extension for England and Wales, have contributed to make this spring the best time to be a property seller in a decade, according to property website Rightmove. The online…

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Borrowing hits February high

Extract from Redwood Financial’s Economic Review March 2021 The latest public sector finance statistics show borrowing remains at record levels as the government continues to spend vast sums supporting the economy through the pandemic. Figures released by ONS revealed that UK public sector net borrowing (the gap between the country’s overall income and expenditure) totalled…

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Retailer optimism rising

Extract from Redwood Financial’s Economic Review March 2021 Official statistics show that retail sales staged a partial recovery in February, while more recent survey data has revealed a muted sense of optimism amongst retailers. According to the latest ONS figures, retail sales volumes rose by 2.1% in February following January’s lockdown-induced plunge of over 8%.…

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