12 July, 2021
Care less about work?
Care less about work since coronavirus? You’re not alone. Almost half of employees are less career-focused than before the pandemic according to a survey by Aviva. As well as caring less, 40% are worried about burning out, blaming the increasingly blurred lines between work and home.
Home sales collapse
Exchanges fell by more than half* in early July, after the stamp duty holiday came to an end. According to Knight Frank, the number of sales going through is at around 60% of its usual level for this time of year. Unless it’s their first property, buyers must now pay the tax on anything over £250,000, cutting the possible saving from £15,000 to £2,500.
Wealth gap widens
Household wealth grew by £900 billion during the pandemic - but most of it went to the richest, according to thinktank the Resolution Foundation. The richest 10% of adults gained over £50,000 each on average, widening the existing wealth gap even further. They benefited from saving more, paying off debt, and seeing their homes gain 8% in value.
Business confidence jumps
Business optimism is growing ahead of the 19th July lifting of lockdown restrictions, according to a survey by BDO. Firms are at their most confident since 2005, with big hiring plans to match. Two thirds of firms expect business to pick up in the coming year and they’re also planning to raise wages.