New measures announced

Weekly roundup: 24 Sept 2020

This week we saw the latest numbers update on the CBILS and BBLS financial support schemes. It now totals over £53bn in financial support.

With the schemes running down, thoughts are now turning to what happens next and how this will be managed, especially for those businesses in financial difficulty.

Then towards the end of the week was saw Rishi Sunak also detailed plans for extended support, to replace the furlough scheme. This is due to wind up next month and although it does offer help for some, it is not a full replacement.

The economy is undoubtedly changing before our eyes… with more local lockdowns, restrictions varying by location, this is all starting to seem very complicated… process flexibility is going to become an ever more important trend it feels.

In other related economic news, many of the familar themes also continued this week too.

On a more upbeat note, some interesting science on potential life in the clouds of Venus. The science team was also interviewed on the Sky at Night, and very kindly referenced the late Carl Sagan who hypothesized this idea in his book/series Cosmos…the idea they have now discovered to be correct. It was great to be able to see a long arc story and congratulations to the discovery team… looking forward to the deadalus starship now…!

Have a good weekend everyone… @chris_w_tweet

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Week 27: The plugged in cyborg

What seemed like a quiet end of last week appears to have taken quite a turn over the weekend with rumors of a centralised approach for COVID payment holiday collection, what sounds like some AML control issues and more talk of negative interest rates again. Crikey… more developments this week no doubt… but before we get there, these are the observations for last week.

  • I have got so used to wearing earphones for video calls all the time, I realised I am now starting to feel improperly dressed without them… it just feels more comfortable to have them in all day… even when not on a call… is this how we start to become cyborg, I wondered?
  • On video calls, the importance of appearance seems to be coming back (and lighting with autumn approaching)… ironed shirts, shaving all starting to return… what’s next… stage make up?
  • Workwise, digital servicing and approach to customer treatment, were all themes last week, especially with the expected volume increase… this is one that just continues to rumble on.

Let’s see how this week plays out… have a good week everyone… @chris_w_tweet

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More data coming through

Weekly roundup: 18 Sept 2020

This week we have been talking quite a bit around digital processing and how this can help with the expected wave of economic stress.

The accepted timeframe for this is still around October, and not only in the UK, but in other markets too. If you look closely at the data some of the early signs are there already too.

This graph from the BBC is a good example. You can start to see redundancy notifications already spiking… with the impact waiting to come through.

Digital and digital processing certainly still seems like the hot topic, especially to help with this volume…. 66% of firms are looking to increase automation was reported this week too.

More news on credit cards this week, with a UK Finance report on card spending. One interesting bullet was that consumers seem to be paying off their balances faster than they are spending and building them new ones… this is an interesting dynamic for the industry, one which will need they will need to adjust for if sustained.

Lastly, there were new rumors swirling of to BoE thinking about negative interest rates. Definitely one to stay close to and think about.

Have a good weekend everyone…. @chris_w_tweet

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