Coronavirus hits a third of UK families' incomes: IHS Markit [Reuters]
IHS Markit Ltd. Common Shares (INFO)
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Source: Reuters
Coronavirus hits a third of UK families' incomes: IHS Markit LONDON (Reuters) - One in three British households has already suffered a drop in income due to the coronavirus crisis, and their overall financial situation is worsening at the fastest rate in a decade, a monthly survey showed on Monday. The figures in IHS Markit’s Household Finance Index were collected from April 2-5, two weeks after Britain went into lockdown to slow the spread of COVID-19, and they added to signs that Britain’s economy is shrinking fast. Preliminary official data last week showed that one in four businesses had shut down temporarily since the lockdown started on March 23, and the remainder had put a fifth of their staff on temporary leave, on average. Britain’s government has said it will pay 80% of the wages of staff who are temporarily laid off due to the coronavirus until at least the end of June, and will also help most self-employed people who have been in business for more than a year. Nonetheless,
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