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US News London: Billion package for retail and hospitality industry

15:45  28 february  2021
15:45  28 february  2021 Source:   ksta.de

China remains Germany's most important partner in foreign trade

 China remains Germany's most important partner in foreign trade Even in the Corona crisis, China remains Germany's most important trading partner. The Federal Statistical Office announced that goods worth 212.1 billion euros were traded between the two countries last year. © Patrick Pleul / dpa-Zentralbild / dpa China continues to be Germany's most important trading partner. While exports to China fell slightly by 0.1 percent to 95.9 billion euros compared to the previous year, imports rose by 3.0 percent to 116.3 billion euros despite the pandemic.

The British government wants to support companies in the retail and hospitality industry, among others, with an aid package worth five billion pounds (around 5.8 billion euros).

London schnürt ein Milliardenpaket zur Unterstützung des Einzelhandels und des Gastgewerbes. © Joe Giddens / PA Wire / dpa London is putting together a billion-dollar package to support retail and hospitality.

"We know that companies especially in the hospitality, leisure, hotel and retail sectors have been affected by the restrictions and they will still be closed in the coming weeks and will only reopen slowly (...)", said British Treasury Secretary Rishi Sunak on Sunday in an interview with the news channel Sky News.

The aid package should enable companies to keep employees and pay bills, Sunak said. Individual companies could be supported with one-off payments of up to 18,000 pounds (around 21,000 euros). Around 650,000 companies across the country are expected to benefit from this.

Sunak wants to present its budget for the new financial year on Wednesday. In addition to numerous reliefs, it is also expected that he will announce an increase in corporate tax. On the other hand, protests arose from the opposition at the weekend. Sunak has also felt headwinds from within its own ranks.

Prime Minister Boris Johnson recently put forward a plan for the gradual lifting of the UK lockdown. All restrictions are to be lifted by June 21.

Industry with strong increase in orders .
German industry started the year with a surprisingly significant increase in orders. Support came mainly from abroad. © Carmen Jaspersen / dpa An employee works at the VW plant in Emden on the body of a VW. In January the manufacturing industry received 1.4 percent more orders than in the previous month, announced the Federal Statistical Office in Wiesbaden. Analysts had expected growth, but only by 0.5 percent on average. In December, orders had fallen by 2.2 percent.

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This is interesting!