Category Archives: Services sector

Concern over ‘opaque’ Covid-related contracts awarded around world

Posted on by

UK among the countries in spotlight after spending more than £2.5bn on outsourcing

The UK has spent more than £2.5bn on services and equipment related to the Covid-19 pandemic, according to fresh analysis that raises concerns about “opaque” contracts around the world wasting money and putting lives at risk.

A report by the Open Contracting Partnership and Spend Network found governments had spent $130bn (£97bn) on pandemic-related contracts, including on PPE (personal protective equipment) and other medical supplies, out of an annual procurement spend of nearly $13tn.

Continue reading...

Covid-19: UK economy plunges into deepest recession since records began

Posted on by

GDP falls 20.4% – the worst of any G7 nation in the three months to June

Britain has entered the deepest recession since records began as official figures on Wednesday showed the economy shrank by more than any other major nation during the coronavirus outbreak in the three months to June.

The Office for National Statistics (ONS) said gross domestic product (GDP), the broadest measure of economic prosperity, fell in the second quarter by 20.4% compared with the previous three months – the biggest quarterly decline since comparable records began in 1955.

Continue reading...

England yet to embrace reopened restaurants and pubs, data suggests

Posted on by

Tracker finds sales about 40% down on same period last year among venues that reopened

People have not embraced an easing of lockdown restrictions in England’s pubs, bars and restaurants, according to figures that showed a drop in sales of about 40% among venues that opened their doors at the beginning of the month.

Pubs that were open in the week beginning 6 July posted a 39% decline in sales compared with the same period last year, while bars were down 43% and restaurants down 40%.

Continue reading...