Saturday, January 23, 2021

UK body sets billion-pound budget plan for COVID financial firm collapses


Investing.com - Financial Markets Worldwide

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Economy19 hours earlier (Jan 22, 2021 07: 40 AM ET)

© Reuters. FILE PHOTO: A woman feeds birds on the bank of the river Thames with London's financial district seen in the background, amid the coronavirus disease (COVID-19) in London © Reuters. SUBMIT PICTURE: A woman feeds birds on the bank of the river Thames with London’s financial district seen in the background, amidst the coronavirus illness (COVID-19) in London

By Huw Jones

LONDON (Reuters) – Britain’s plan for compensating consumers hit by financial business failures has actually set itself a billion-pound ($ 1.

The body is responsible for payment arrangements for the Financial Conduct Authority, which alerted this month that around 4,000 financial companies in Britain were at “heightened danger” of collapsing due to fallout from the pandemic.

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