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General public sector net financial debt surges to £2.13 trillion as Covid pandemic smashes British isles economy

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Budget 2021: Corporation tax soars to 25% in Sunak’s Budget speech
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he appalling extent of destruction the Covid pandemic is reaping on the Uk financial system was laid bare these days as formal figures showed community sector internet borrowing was £19.1 billion in February – the best February borrowing degrees on document.

The Office for Nationwide Stats said the February amount was up some £17.6 billion on previous February.

Community sector web personal debt rose £333 billion more than the to start with 11 months of the existing economic year to £2.13 trillion, or 97.5% of GDP, sustaining a level not found since the early 1960s, the ONS said.

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Grainger assured about demand for London homes, and maintains dividend

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Grainger confident about demand for London homes, and maintains dividend
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he UK’s major detailed household landlord has reported a increase in enquiry amounts, and stated its conviction in London’s rental sector stays.

FTSE 250 firm Grainger reported lettings enquires are up 86% given that the commencing of January, and main government Helen Gordon explained significantly of the need is in the capital.

Grainger stated: “Despite the short-expression market challenges in London of the previous year, our portfolio executed properly and our conviction in London’s rental current market stays.”

The landlord included: “As a leading city, London will carry on to be an interesting spot to stay in and it will expertise population and financial progress in both equally the in close proximity to expression as restrictions are lifted, and in the more time term, which will underpin rental expansion and assist valuations.”

Gordon said: “We have viewed fantastic desire for our rental properties as lockdown lifts, with individuals captivated to almost everything else London has to offer, this kind of as the bars, places to eat and culture.”

The firm has close to 9100 rental houses in the British isles, of which around a third are in London. New Grainger web-sites that renters will be capable to transfer into afterwards this year involve in Tottenham Hale.

In the 6 months to March 31 Grainger recorded 1.7% like-for-like rental expansion.

The business will manage its interim dividend at 1.83p per share.

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