Liverpool Economy – Liverpool IL http://liverpool-il.com/ Sun, 19 Sep 2021 19:30:04 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://liverpool-il.com/wp-content/uploads/2021/04/default1-150x150.png Liverpool Economy – Liverpool IL http://liverpool-il.com/ 32 32 More support for the Australian aviation industry | Liverpool City Champion https://liverpool-il.com/more-support-for-the-australian-aviation-industry-liverpool-city-champion/ https://liverpool-il.com/more-support-for-the-australian-aviation-industry-liverpool-city-champion/#respond Sun, 19 Sep 2021 17:30:50 +0000 https://liverpool-il.com/more-support-for-the-australian-aviation-industry-liverpool-city-champion/ Support for the country’s ailing aviation industry has been extended again, as the federal government plans to open international borders by the end of the year. Another funding of $ 183.65 million to help maintain Australia’s international aviation capacity has been announced by Tourism Minister Barnaby Joyce. “Australia’s aviation industry will play a critical role […]]]>

Support for the country’s ailing aviation industry has been extended again, as the federal government plans to open international borders by the end of the year.

Another funding of $ 183.65 million to help maintain Australia’s international aviation capacity has been announced by Tourism Minister Barnaby Joyce.

“Australia’s aviation industry will play a critical role in our economic recovery from the COVID-19 crisis,” the Deputy Prime Minister said.

“As the engine of so many sectors of our economy, it is essential that the industry be prepared to scale up operations when international restrictions are relaxed.”

Most of the money will go to expanding the international aviation support program, which is due to expire at the end of October, when it was initially hoped that international travel could resume.

The program – now worth $ 319.65 million – aims to help airlines retain essential jobs critical to international travel so they are ready to go when borders reopen.

But $ 64 million of the new cash injection will go to a new rebate program to help airports offset the cost of security screening as passenger numbers remain low.

The program will start in October and run through the end of March, with payments available for major international airports in each state and territory capital, as well as Cairns, Gold Coast and Townsville.

Associated Australian Press


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West Sydney to boom with $ 139 million in new infrastructure https://liverpool-il.com/west-sydney-to-boom-with-139-million-in-new-infrastructure/ https://liverpool-il.com/west-sydney-to-boom-with-139-million-in-new-infrastructure/#respond Sun, 19 Sep 2021 03:54:57 +0000 https://liverpool-il.com/west-sydney-to-boom-with-139-million-in-new-infrastructure/ A share of $ 139 million is up for grabs for eight Western Sydney councils as applications open for the second round of Fast Track Infrastructure Finance (AIF). Planning and Public Spaces Minister Rob Stokes said the second round includes new high growth areas in the Local Government Areas (LGAs) of Blacktown, The Hills, Hawkesbury, […]]]>

A share of $ 139 million is up for grabs for eight Western Sydney councils as applications open for the second round of Fast Track Infrastructure Finance (AIF).

Planning and Public Spaces Minister Rob Stokes said the second round includes new high growth areas in the Local Government Areas (LGAs) of Blacktown, The Hills, Hawkesbury, Penrith, Liverpool, Camden, Campbelltown and Wollondilly.

“We launched this funding to support our economic recovery from the COVID-19 pandemic and in the first round, more than $ 145 million was invested to complete 14 projects,” Stokes said.

“All of these projects are now underway and will support the development of up to 40,000 new homes, 115 hectares of employment land and create up to 1,000 new construction jobs.

“The delivery of important infrastructure such as roads, storm sewers and public space is key to our economic recovery and the second round of the AIF brings the support of the NSW government to over $ 210 million. “

Employment, Investment, Tourism and Western Sydney Minister Stuart Ayres said the AIF will also create thousands of jobs during the construction phase, helping to meet the needs future of western Sydney.

“West Sydney is ripe for growth and this funding will provide the infrastructure needed to support more than 20,000 new homes in these LGAs over the next five years,” said Ayres.

“This is a great example of state and local government working together to accelerate projects that boost the economy and create jobs as we begin to emerge from the pandemic. “

Boards will be allocated funding based on the expected growth in each LGA, the amount of development the funding will support, and the amount of co-funding that the boards can provide. All projects must begin construction within two years to be eligible for funding.

Project nominations are now open and boards will need to apply by October 31, 2021 to be considered.

For more information visit: www.https: //www.planning.nsw.gov.au/accelerated-infrastructure-fund.


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Royal Portrush back for the Open Championship https://liverpool-il.com/royal-portrush-back-for-the-open-championship/ https://liverpool-il.com/royal-portrush-back-for-the-open-championship/#respond Sat, 18 Sep 2021 14:16:09 +0000 https://liverpool-il.com/royal-portrush-back-for-the-open-championship/ Portrush, Northern Ireland: The Open is set to make a triumphant return to Royal Portrush in 2025, marking an exciting new chapter in the history of the original championship of golf and providing another outstanding showcase for golf in Northern Ireland. Following the success of the 148th Open at Royal Portrush in 2019, Prime Minister […]]]>

Portrush, Northern Ireland: The Open is set to make a triumphant return to Royal Portrush in 2025, marking an exciting new chapter in the history of the original championship of golf and providing another outstanding showcase for golf in Northern Ireland.

Following the success of the 148th Open at Royal Portrush in 2019, Prime Minister of Northern Ireland Paul Givan, Deputy Minister Declan Kearney and Minister of Economy Gordon Lyons joined Martin Slumbers, Managing Director of The R&A, and the Dr Ian Kerr, Captain of Royal Portrush. Golf Club, on the famous links of the Antrim coast to announce that the championship will be played there from July 17 to 20, 2025.

The Open generated more than £ 100million for the Northern Ireland economy two years ago, attracting a record league attendance outside St Andrews of 237,750 fans throughout the week .

Over 5,400 hours of television coverage has been broadcast to hundreds of millions of viewers around the world as Irishman Shane Lowry became the Champion Golfer of the Year and lifted the famous Claret Jug.

The return of the Championship to Royal Portrush for just the third time in 74 years has been wholeheartedly supported by the Northern Ireland Executive and Tourism Northern Ireland as well as the Northern Ireland Police Service and Causeway Coast and Glens Borough Council.

Slumbers said: “We couldn’t be more excited to bring the Open back to Royal Portrush in 2025. Golf fans around the world will be very excited to see the best male players take on the challenge of these magnificent men once again. links.

“The 2019 Open was a huge success and showed just how much collective enthusiasm, passion and commitment exists to make the Royal Portrush one of the premier venues of the Championship and to create a tourism brand of distinctive golf for Northern Ireland.

“We greatly appreciate the support we have received from the Northern Ireland executive, our partner agencies and of course the club and its members. We look forward to working with them to organize another fantastic celebration of the golf in four years. “

Prime Minister Givan said: “Following the outstanding success of the Open at Royal Portrush in 2019, I am delighted to welcome the return of the championship in 2025.

“It was a key executive objective to quickly bring the Open back to Northern Ireland and as we begin our preparations to host the championship again, I am confident it will provide a platform on which to build a global golf destination brand for Portrush and Northern Ireland to complement those for St Andrews and Scotland, in partnership with The R&A, as well as an opportunity to stimulate additional private sector investment in the era of the resumption of Covid-19. ”

Attending the event on behalf of Deputy Prime Minister Michelle O’Neill, Assistant Minister Kearney said: “I warmly welcome The Open’s return in 2025 and the expected activities and jobs it will bring. on these coasts.

“We are an island with a wonderful golf product and in a normal year we have hundreds of thousands of golf visitors. 2019 has been an exceptional year for golf here as we hosted the 148th Open at Royal Portrush and attracted nearly 240,000 spectators during the week.

“After a tumultuous period which greatly affected travel, tourism and events, I now look to the future with more optimism and look forward to welcoming our international visitors to the North Coast to explore the best of what we have to offer. “

Economics Minister Lyons said: “As the home to some of the world’s best golfers and the location of some of the world’s best golf courses, I am determined that Northern Ireland makes the most of it. its golfing assets and derive solid economic benefits from it.

“The benefits to Northern Ireland of over £ 100million from the Open in 2019 demonstrate the scale of our success and reflect what can be achieved through collaborative work between the public and private sectors, in focusing on a shared and common goal. “

Royal Portrush Kerr captain said: “We are delighted to see the Open return to the Royal Portrush Golf Club. It is one of the biggest sporting events in the world and to see it return to Northern Ireland and the Royal Portrush so soon is recognition of the excellent work done by everyone involved in 2019. The 2019 Open has created a positive festival atmosphere in the region and we look forward to hosting this wonderful event again. “

Mayor Councilor Richard Holmes of Causeway Coast and Glens Borough Council added: “The Open will be etched in the memory of those who live, work or have been fortunate enough to visit the Borough between July 14 and July 21, 2019, I learn that we will once again host and enable the biggest sporting event on the island of Ireland.

“Based on how the whole of Northern Ireland embraced the 148th Open, I have no doubt that together with The R&A, Royal Portrush Golf Club and the other delivery partners we will honor this event incredible and will build on the achievements of 2019. “

An independent report produced by the Sports Industry Research Center at Sheffield Hallam University found that the 148th Open had a direct economic impact of £ 45million on the Northern Irish economy. An additional £ 37.3million in advertising equivalent value (AEV) was generated from global TV coverage and Tourism Northern Ireland valued £ 23.7million from AEV in other media coverage.

Royal Portrush joins a formidable range of venues for The Open in the coming years with the 150th Open being played in St Andrews in 2022, then Royal Liverpool and Royal Troon hosting the Championship in 2023 and 2024 respectively.


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Independent hope to push zero carbon | Liverpool City Champion https://liverpool-il.com/independent-hope-to-push-zero-carbon-liverpool-city-champion/ https://liverpool-il.com/independent-hope-to-push-zero-carbon-liverpool-city-champion/#respond Fri, 17 Sep 2021 22:30:19 +0000 https://liverpool-il.com/independent-hope-to-push-zero-carbon-liverpool-city-champion/ The former CEO of two prominent charities will push for more climate action in a contest for the North Sydney federal seat against Liberal MP Trent Zimmerman. Announcing her candidacy on Saturday, Kylea Tink used neighboring Warringah’s electorate as an example of how independents can shake up traditional liberal seats. “We know that, like in […]]]>

The former CEO of two prominent charities will push for more climate action in a contest for the North Sydney federal seat against Liberal MP Trent Zimmerman.

Announcing her candidacy on Saturday, Kylea Tink used neighboring Warringah’s electorate as an example of how independents can shake up traditional liberal seats.

“We know that, like in neighboring Warringah, only an independent can get this message across loud and clear in Canberra and stop the paralysis of the main parties,” she said.

His independent colleague Zali Steggall defeated former Prime Minister Tony Abbott to win Warringah on a platform largely focused on climate change in 2019.

Citing a YouGov poll for the Australian Conservation Foundation, Ms Tink said the North Sydney electorate was the third largest supporter of climate action in the country, with 72% of voters believing the government needed to do more.

“We should be leading, not lagging behind and halving greenhouse gas emissions by 2030,” she said.

“Moving quickly to a zero carbon economy is a historic opportunity to secure our future prosperity and jobs for our children.”

Ms. Tink was CEO of the McGrath Foundation before leading Camp Quality, a children’s cancer charity.

Associated Australian Press


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Power Plant Perspective: David Laws | national https://liverpool-il.com/power-plant-perspective-david-laws-national/ https://liverpool-il.com/power-plant-perspective-david-laws-national/#respond Fri, 17 Sep 2021 09:50:42 +0000 https://liverpool-il.com/power-plant-perspective-david-laws-national/ In the last installment of the initiate Northern Power Plant Q&A Series David Laws, partner at Matthews & Goodman, describes what the initiative means to him, the skills and transportation infrastructure challenges, and what can be done to support the region’s economic recovery. Name: David LoisPosition: PartnerSociety: Matthews & Goodman What does the Northern Power […]]]>



In the last installment of the initiate Northern Power Plant Q&A Series David Laws, partner at Matthews & Goodman, describes what the initiative means to him, the skills and transportation infrastructure challenges, and what can be done to support the region’s economic recovery.

Name: David Lois
Position: Partner
Society: Matthews & Goodman

What does the Northern Power Plant mean to you?
Any initiative that highlights the cities of the North, where the intention is to invest and improve, should be applauded. Lord Heseltine has proven that a regional development strategy (in Liverpool) can work and can have the power to have a significant and lasting impact on a city – the recently announced £ 5billion waterfront development in Liverpool can be seen as a consequence of its intervention in the early 1980s. However, the Northern Powerhouse initiative seems to have been replaced by the Leveling Up Fund, the Transforming Cities Fund and the Towns Fund. In other words, yesterday’s sound clip for yesterday’s (government) team.

Seven years have passed since the term ‘Northern Powerhouse’ was first coined. Has enough happened since then?
I polled my peers before I broached this issue and the consensus was that the Northern Powerhouse initiative was little more than a campaign slogan. In addition, it seems less relevant following the announcement of the government program “Leveling Up”. The major challenges facing the northern regions, such as skills and unemployment, improving public transport infrastructure and urban congestion, continue to plague us.

How does the appointment of metro mayors start to help the initiative?
Has the decentralization of power and funding for Whitehall & Westminster made a significant difference for subway mayor constituencies? To be honest, we need to take a 20+ year view. I would say it is too early to see the real impact of the Liverpool City area’s £ 40million investment in 30 City-area schools and colleges and £ 10million in the Shakespeare North Project. Or if Andy Burnham’s commitments to tackle homelessness, air quality, the development of the green belt have had a significant impact on the people of Greater Manchester for example – not to mention the £ 70 billion sterling investment offered by Transport for the North. I could go through each metro mayor’s manifesto and subsequent complaints, but you get the gist of it.

What needs to be done to help the North recover from the Covid-19 epidemic?
Our most critical goal must be to do all we can to support the region’s economic recovery, especially the retail and leisure sectors. We must also ensure that employees who wish to return to their workplace can do so quickly and that they find a safe and productive environment. There needs to be more emphasis on connecting people with jobs, as well as improving the skills of everyone, especially young people, in order to work and thrive in the booming digital and green economies.

What is the main issue that you would like to see dominate Northern Powerhouse’s agenda?
Transport: an integrated “green” public transport system and the creation of urban master plans that encourage walking and cycling.

Is there enough collaboration between northern cities?
There is a feeling that too much emphasis is placed on the big cities and not enough on the connection between towns, cities and rural areas. This became significantly more important after Covid, as city centers are no longer the predominant epicenters of work and productivity. The initial concentration of investments on big cities ignores the economic value of working from home / working anywhere. What is needed is a “whole north approach” in terms of strategic oversight, investment, development planning, connectivity, transport and infrastructure. Much has been said over the past seven years, but the evidence has shone in its absence.

How would the success of the Northern Powerhouse program benefit your business?
Seven years later, while there might be a cohesive plan to address inequalities in economic health in every district of metro mayors, there appears to be a fundamental flaw in the thinking. The original strategy of focusing on six Nordic cities did not create a robust Nordic economy beyond these cities. The pandemic has precipitated a structural change in the country’s business model, which is why this strategy is no longer relevant for the future of the majority of Northerners.


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Liverpool will help pay for new Everton stadium with £ 45million boost https://liverpool-il.com/liverpool-will-help-pay-for-new-everton-stadium-with-45million-boost/ https://liverpool-il.com/liverpool-will-help-pay-for-new-everton-stadium-with-45million-boost/#respond Thu, 16 Sep 2021 21:14:53 +0000 https://liverpool-il.com/liverpool-will-help-pay-for-new-everton-stadium-with-45million-boost/ The Liverpool City Region Combined Authority will consider a proposal that will grant Everton up to £ 45million for their new stadium under construction at Bramley-Moore Quay on the banks of the River Mersey. The breaking news Thursday night as reported by the Liverpool Echo goes on to say that the sum consists of a […]]]>

The Liverpool City Region Combined Authority will consider a proposal that will grant Everton up to £ 45million for their new stadium under construction at Bramley-Moore Quay on the banks of the River Mersey.

The breaking news Thursday night as reported by the Liverpool Echo goes on to say that the sum consists of a £ 15million grant and a separate £ 30million loan for the massive project which has a completion target for the 2023/24 season.

Everton have sought investment in the region’s development as they seek to rejuvenate one of the region’s most dilapidated areas with the aim of creating up to 15,000 jobs and £ 1bn to revive the local economy.

The Combined Authority will debate the proposals next Friday, but in a statement released today insisted the money should not be seen as an investment in the club but for the ripple effect of help the region.

The Echo goes on to say that the £ 15million grant was intended to cover infrastructure work on the public spaces around the stadium and to offset part of the £ 55million the club is setting aside for the preservation of the heritage of the riparian site.

The £ 30million loan would contribute to the construction cost of around half a billion pounds for the new stadium, mainly due to the extensive analysis the club has carried out to ensure the quayside site remains intact as much as possible.

“The Combined Authority exists to stimulate economic regeneration, create jobs and opportunities for local people and breathe new life into a region that has continually been left behind by national governments.

“Devolution is first and foremost about local leaders taking control of our own destiny and working with the local people to shape the future we want for our region.

“This project is one of the most significant regeneration projects our region has seen in over a decade and will be a major catalyst for regeneration and renewal in a region that has called for investment for decades.

“This is not an investment in a football club but in an important project that will generate a myriad of social and economic benefits for the communities in our region.

“From creating thousands of jobs, training and learning opportunities for local populations, to attracting hundreds of thousands of new visitors to our region and launching programs that will help fight inequalities in health and social issues, while supporting vulnerable people in our communities.

“The financial returns generated by this investment will ensure that we are able to invest in other regeneration projects and services throughout the city region.

“Given the austerity and financial constraints that local councils continued to face, this is an innovative way to generate new money and invest to improve our region. “

The grant and loan offer is said to be conditional on Everton meeting certain employment and economic regeneration goals for the region, but so far it looks like a big boost for the club as ‘he continues his work on building the Toffees’ house of the future.


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North West Square | North Wales metro plans accelerate https://liverpool-il.com/north-west-square-north-wales-metro-plans-accelerate/ https://liverpool-il.com/north-west-square-north-wales-metro-plans-accelerate/#respond Thu, 16 Sep 2021 14:25:20 +0000 https://liverpool-il.com/north-west-square-north-wales-metro-plans-accelerate/ Short-term plans include two new stations. Credit: Welsh Government Sep 16, 2021, 3:22 PM Neil tag Progress in improving rail services in North Wales has been highlighted by the release of new images of the project. In March, the Welsh government pledged £ 9million for the North Wales Underground. Images released this month show the […]]]>

Short-term plans include two new stations. Credit: Welsh Government

Neil tag

Progress in improving rail services in North Wales has been highlighted by the release of new images of the project.

In March, the Welsh government pledged £ 9million for the North Wales Underground. Images released this month show the priorities through 2029, which include major improvements at popular stations, the creation of three new stations, at Broughton, Deeside and Greenfield, and frequency improvements from Bangor to Wrexham.

The second image, pictured below, captures more ambitious long-term plans, including electrification from Holyhead to Chester and extensions to West Wales and North Anglesey.

Projects that will receive funding this year, including:

  • £ 4.8million for improved buses including information displays on the Traws Cymru network, refurbishment of Bangor bus station and new fflecsi programs
  • £ 2.7million for improvements at stations, including Wrexham, and accessibility improvements
  • over £ 1million to look for ways to improve connectivity between Wrexham and Liverpool
  • over £ 1million for Snowdonia’s transport strategy which aims to encourage park-and-ride, buses and active travel in the national park
  • £ 1.5million to develop integrated station in Shotton
  • £ 670,000 for Deeside Parkway development
  • £ 900,000 for a study of the North Wales coast main line to improve journey times
  • £ 250,000 to support the roll-out of integrated ticketing on buses.

Lee Waters, Deputy Minister for Climate Change in the Welsh Government, said: “In North Wales we have established the foundations of transformative rail and bus services and active travel.

“In addition to reducing rural isolation and opening up employment, business and leisure opportunities in North Wales, these plans will also play a vital role in the development of the wider economy. of the region.”

The Welsh Government’s target is for 45% of trips to be made by public transport or active travel by 2040.

Visiting Wrexham last week, Waters reviewed progress at the Wrexham footbridge – the task force is investing £ 25million in what is one of the largest station area projects in the region. Other partners include Wrexham Council and Wrexham Glyndŵr University in collaboration with Transport for Wales and the growing Wrexham AFC.

North Wales Metro September 2, 21

Better connectivity on Anglesey is the key to long-term thinking. Credit: Welsh Government


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New South Wales disaster payout recipients surpass 1 million as men claim lion’s share https://liverpool-il.com/new-south-wales-disaster-payout-recipients-surpass-1-million-as-men-claim-lions-share/ https://liverpool-il.com/new-south-wales-disaster-payout-recipients-surpass-1-million-as-men-claim-lions-share/#respond Sun, 12 Sep 2021 06:49:34 +0000 https://liverpool-il.com/new-south-wales-disaster-payout-recipients-surpass-1-million-as-men-claim-lions-share/ Companies registered in the City of Sydney’s LGA received more aid in total than any other region – $ 321 million – followed by Canterbury-Bankstown ($ 198 million) and Northern Beaches ($ 182 million). Figures provided to the New South Wales Parliament show that one in four businesses in Sydney’s 13 local government areas have […]]]>

Companies registered in the City of Sydney’s LGA received more aid in total than any other region – $ 321 million – followed by Canterbury-Bankstown ($ 198 million) and Northern Beaches ($ 182 million).

Figures provided to the New South Wales Parliament show that one in four businesses in Sydney’s 13 local government areas have received government support, including Sutherland, Northern Beaches, Liverpool, Central Coast, Canterbury-Bankstown, Penrith, Wollongong, Campbelltown, Blue Mountains and Fairfield.

NSW businesses have globally received $ 4 billion since the COVID-19 outbreak in mid-June in Sydney under three grant programs funded by the state and federal governments – the COVID-19 Business Grant , the JobSaver payment and the COVID-19 microenterprise grant.

Half of the total went to JobSaver, which provides cash assistance of up to $ 100,000 per week to businesses, depending on their size.

Support for businesses affected by NSW lockdowns has been hampered by distribution issues and some businesses continue to complain about slow receipt of payments and lack of information.

The number of people in New South Wales receiving income assistance following the COVID-19 disaster topped one million last week after increasing by 75,000 in the past fifteen weeks. Data from Services Australia shows that 1.02 million people in the state had received at least one of the payments as of Friday, September 10.

Accenture and illion’s analysis, which pulls anonymized data from hundreds of thousands of bank accounts, showed that 15% of adults in greater Sydney were receiving the emergency payment in August.

Prime Minister Scott Morrison said on Sunday the need for the COVID-19 disaster payment will “change” once the lockdowns are lifted, but the process for removing emergency income support is still under review .

“The treasurer is working on these details with the states and territories,” he said.

The COVID-19 Disaster Payment provides $ 750 per week to workers who lost more than 20 hours of work per week due to lockdown restrictions and $ 450 per week to those who lost 8 to 20 hours per week ( income support recipients who lost at least 8 hours of work receive $ 200 per week).


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Northerners will be penalized in post-pandemic world of theft https://liverpool-il.com/northerners-will-be-penalized-in-post-pandemic-world-of-theft/ https://liverpool-il.com/northerners-will-be-penalized-in-post-pandemic-world-of-theft/#respond Thu, 09 Sep 2021 08:23:00 +0000 https://liverpool-il.com/northerners-will-be-penalized-in-post-pandemic-world-of-theft/ In July, Steve Double, the Conservative MP for St Austell and Newquay, told the House of Commons: “Our airlines and airports face a much longer recovery path than many other industries. Even with a successful rollout of the vaccine globally, 2025 is the earliest date the UK is expected to return to passenger levels of […]]]>

In July, Steve Double, the Conservative MP for St Austell and Newquay, told the House of Commons: “Our airlines and airports face a much longer recovery path than many other industries. Even with a successful rollout of the vaccine globally, 2025 is the earliest date the UK is expected to return to passenger levels of 2019.

“Furthermore, this recovery is unlikely to be uniform, with regions outside London and the South East expected to recover much more slowly.”

Travel rebounded in London, a sign of an economic recovery in the south-east. However, northern cities see far fewer workers returning to their offices. Travel explodes when business explodes. British Airways and Lufthansa have just announced that they will resume services to financial centers in Zurich, Frankfurt and Rotterdam later this month. KLM has already resumed flights to Amsterdam.

Just this week, the Transport Department reconfirmed its view that the South East needs additional airport capacity, and that this is best met by a third runway for Heathrow – a program expected to cost $ 32 billion. pound sterling. Gatwick, meanwhile, resurrected his £ 500million second track.

However, when it comes to saving regional airports, there has been nothing but deafening silence from the government.

Manchester, the global gateway to the north, handles around 20% of the traffic seen before the pandemic. Prior to March 2020, the airport had direct long-haul routes to North America, China, the Middle East, the Caribbean and Africa, which were a key driver of foreign investment in Manchester and the north. at large.

When will they come back? Do they ever go? Your guess is as good as mine. By comparison, European airports account for up to around 60% of pre-pandemic traffic.

The next review of the government’s travel rules is scheduled for October 1. At the very least, it will require a simplified system for travel and the elimination of PCR testing for fully vaccinated passengers.

But vision is needed, and urgently. From the BBC to Channel Four, and from HSBC to the civil service, business leaders have understood that the only way to grow the economy equitably and in the long-term interests of all regions and the four country is to transfer wealth and invest abroad. London. It is time for the government to look north to secure a future for Britain’s travel, tourism and airport industries.


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RBA meets as economic outlook deteriorates | Liverpool City Champion https://liverpool-il.com/rba-meets-as-economic-outlook-deteriorates-liverpool-city-champion/ https://liverpool-il.com/rba-meets-as-economic-outlook-deteriorates-liverpool-city-champion/#respond Sun, 05 Sep 2021 01:15:18 +0000 https://liverpool-il.com/rba-meets-as-economic-outlook-deteriorates-liverpool-city-champion/ The Reserve Bank of Australia will have plenty of data to sift through when it holds its monthly board meeting on Tuesday. There have been a slew of numbers over the past month that have seen economic growth slow after its galloping recovery from last year’s recession and signs of a sharp slowdown in the […]]]>

The Reserve Bank of Australia will have plenty of data to sift through when it holds its monthly board meeting on Tuesday.

There have been a slew of numbers over the past month that have seen economic growth slow after its galloping recovery from last year’s recession and signs of a sharp slowdown in the September quarter.

There is no doubt that the RBA will leave the spot rate at an all-time high of 0.1% at the meeting.

But economists are wondering whether to expect any changes to its bond buying program, which aims to keep market interest rates and borrowing costs low.

The RBA had planned earlier this year to reduce its weekly purchases to $ 4 billion from $ 5 billion from September.

Some economists believe this will delay this rollback, or what’s called the cutback, in the face of the deteriorating outlook due to COVID-19 lockdowns in NSW and Victoria, the country’s two most populous states.

The Treasury predicts that these lockdowns could cause a contraction of at least $ 2 billion, while economists estimate it at $ 4 billion.

Westpac chief economist Bill Evans believes the RBA should respond by increasing its bond purchases to $ 6 billion per week.

“It would not be the magnitude of the increase but the signal that the RBA was prepared to do more than just reverse the August decision and respond to the deteriorating outlook,” Evans said.

Economists will also be looking for any signs of a change in the RBA’s forward interest rate forecast given the more uncertain outlook.

The RBA wants to see inflation sustainably in its inflation target of two to three percent, which will require the unemployment rate to fall to four percent and wage growth of at least three percent.

She does not expect these conditions to be met until 2024.

As the unemployment rate fell to a 12-year low of 4.6 percent in July, the expected economic slowdown is expected to see that increase again above five percent.

At the same time, wage growth remained weak at 1.7 percent in the June quarter.

Two separate indicators this week will give an idea of ​​the current state of the labor market.

The Australian Bureau of Statistics will release its paid jobs report for the fortnight ending August 14 on Thursday, a guide to the full August workforce report expected later this month.

The week kicks off Monday with ANZ posting its August Monday job posting series, an indicator of future hires.

Meanwhile, Australian stocks are expected to open lower after a generally soft finish on Wall Street after its key monthly payroll report showed only 235,000 jobs were added to the US economy in August.

Investors saw this as surprisingly weak after the previous two months of robust hiring, but at a time when the highly contagious Delta variant discouraged people from flying, shopping and dining out.

The S&P 500 lost 1.52 points, or less than 0.1%, to 4,535.43. The Dow Jones Industrial Average lost 74.73 points, or 0.2%, to 35,369.09.

The Nasdaq composite reversed the trend, rising 32.34 points, or 0.2%, to 15,363.52, its third consecutive gain.

Australian equity futures were down 23 points to 7,483.

Australia’s benchmark S & P / ASX200 ended up 37.2 points, or 0.5%, at 7,522.9 on Friday.

Associated Australian Press


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