8 April 2020

Coronavirus: national financial impact tracker

We’re launching our new financial impact tracker today. The tracker will monitor the economic effects of the pandemic, and support offered from the government, on people’s finances. Initial findings should be available at the end of April and will provide in-depth analysis of how our financial well-being has been affected by the crisis.

You can find out more about the tracker on our website.

Other information on the financial impact of the coronavirus pandemic

If you can’t wait until the end of April, there are other organisations mapping the state of the economy, albeit with a different focus.

The Institute for Fiscal Studies have found that women and the lowest paid are likely to be worst affected by the effects of the coronavirus on the economy.

Resolution Foundation looked at the latest figures on take-up of the UK's Job Retention Scheme from the British Chambers of Commerce and found that the scheme may cost £30-40bn over three months, three times the size of initial estimates. They have released a well-named report, Crystal balls vs rear view mirrors, which says that we are facing a jobs recession, and the high-street will enter an unmanaged decline (as opposed to the managed decline which we were seeing already).

The World Economic Forum is concerned that the coronavirus fallout could exacerbate the existing financial inequality between men and women. It also reports that there is an increasing risk of modern slavery.

The RSA is gathering evidence on community responses to the pandemic, they want to hear from others who are collecting data on this. If that sounds like you, get in touch.

And finally…

We’ve had a lot of new subscribers this week. If you are a charity which is after funding, great resources are available on the NVCO website, which is collating a list of all funds available.