The spread of COVID-19 has already disrupted the economy in China and beyond. This page collects together ICAEW insights and externally-produced resources giving economic indicators and analysis on the financial impact of the coronavirus.
This week’s chart looks at how the pandemic has driven government debt levels higher, a topic that will be on the agenda at the G7 summit in Cornwall in six weeks’ time.
The government’s fundamental review of the processes that underpin the UK’s tax system, makes it clear that to be fit for the future the system has to embrace and embed digital technologies at its very heart. Anita Monteith explains that change is coming.
COVID-19 is likely to further spur the global trend towards tax digitalisation. David Lyford-Smith from ICAEW’s Tech Faculty considers changes that will help automate processes to make them more efficient and points to ongoing challenges, such as digital exclusion.
ICAEW has cautiously welcomed the government’s support for the UK’s burgeoning fintech sector as a driver of post-pandemic economic recovery but warned that developing the sector without addressing social and financial inclusion issues would be a missed opportunity.
Newcastle University’s Tracey Wilson, who specialises in tax and financial reporting, reflects on the reintroduction of a tiered system of corporation tax, its complexities and effectiveness and alternative models of taxing business.
This week’s chart explores Canada’s newly minted Budget 2021, which saw its federal government lay out “a recovery plan for jobs, growth and resilience”.
Huge economic shock combined with unprecedented fiscal interventions results in a provisional fiscal deficit of £303bn or 14.5% of GDP for the year ended 31 March 2021.
Working from home was forced on many businesses during lockdown and for some, it may be here to stay. How can we make the most of this and boost business productivity?
This week’s chart examines the complexity in the tax system and potential options for reform by looking at the number of tax bands for salaried employees across the UK.
There are a high proportion of zombie companies in the UK. The COVID-19 pandemic has created the perfect environment to create more.
Weekly briefing from PwC presenting key economic data plus illustrative scenarios and analysis of the impact on industry sectors.
Weekly survey conducted by the British Chambers of Commerce tracking business response to the government's measures and changes to business's working practices. It gives figures on levels of staff furloughing, cash reserves, take up of the Bounce Back Loan Scheme, reaction to government guidance, and ability to implement guidance.
Fortnightly statistical bulletin from the ONS showing how businesses in the UK have been affected by Coronavirus in terms of turnover, workforce, prices, trade and business resilience. Indicators are based on responses from the ONS voluntary business survey into the impact of Coronavirus.
A series of weekly webinars hosted by Deloitte's Chief Economist discussing the impacts of COVID-19 on the UK and global economy, challenges faced by organisations, how businesses are responding and government initiatives.
Hub produced by Eurostat collecting together statistics on the economic impact of the coronavirus pandemic across Europe. It includes the latest releases, analysis, data visualisations and data sets tracking key indicators.
Research briefing looking at the effect of the coronavirus and policy responses on the UK economy and public finances.
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