Tories Focus on U.K. Recovery Amid Criticism of Covid Response
Boris Johnson's ministers tried to shift the focus onto plans for Britain's economic recovery, amid growing tensions in the ruling Conservative Party over the government's handling of the coronavirus pandemic.
Foreign Secretary Dominic Raab promised the U.K. would “bounce back stronger” from the crisis and International Trade Secretary Liz Truss said new trade agreements will give companies suffering from “depressed domestic demand” a “bigger slice of the international pie.”
Truss also said the government must prevent “predatory” company takeover bids from abroad “that don't necessarily have Britain's best interests at heart” -- especially at a time when firms are undervalued during the pandemic.She declined to give an example.
The annual conference is taking place online this year due to the virus, robbing ministers of the chance to personally quell dissent among the Tory grassroots, following criticism of the government's lockdown measures and problems with testing.
Read more: U.K.'s Johnson Blames ‘Complacent' Public for Surge in Covid
In his keynote speech, Raab struck an upbeat, future-facing tone, urging the party “not to shrink into the shadows but to look to the stars.” He questioned why people found it “so hard” to take pride in Britain and why “the positive things we achieve get so little air time.” He cited the country's efforts to secure a Covid-19 vaccine.
Chief Secretary to the Treasury Steve Barclay said the government would not return to austerity as the country recovers from the pandemic, while Cabinet Officer Minister Michael Gove expressed “optimism” that the U.K. could secure a trade deal with the European Union that would be “hugely helpful” for some parts of the economy.
There was also a renewed focus on the government's “leveling up” agenda, with talk of moving government departments outside London and a fund to support Tory MPs in so-called Red Wall seats -- districts which typically voted for the Labour Party but switched to the Tories last year.
©2020 Bloomberg L.P.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
-
Indians Stay With Family, Not In Hotels | The Reason Why
India still lacks enough clean, reliable and affordable hotels for budget-conscious travellers.
-
The Economic Imperative: Analysing The Material Driving Force Behind India-Canada Strategic Reset
This economic complementarity is further reinforced by deep institutional investment ties and talent mobility, which form the bedrock of the bilateral framework.
-
Medicine Pricing: Where Must Profit Stop?
India must confront excessive margins, hidden incentives and regulatory gaps that threaten the integrity of medicine.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.