Categories: Market Overview

UK expected to announce it will lift lockdown soon — with conditions attached

U.K. Prime Minister Boris Johnson is expected to announce Monday that a nationwide lockdown in England will be lifted in early December. However, the lifting of restrictions that have seen leisure and hospitality venues and most shops close will come with conditions attached.

Prime Minister Johnson is expected to announce to parliament on Monday that lockdown will end on Dec. 2, almost month after a second lockdown was imposed. He will address the country later in the afternoon.

He is expected to detail what restrictions will be imposed after the lockdown is lifted, including a likely return to the “three-tier system,” with differing degrees of rules imposed on areas of the country depending on their number of coronavirus infections.

Tiered system explained
The U.K.’s three-tier system of local Covid-19 alert levels, introduced in mid-October, saw areas classified as either “medium,” “high” or “very high.”

In “very high” level areas, pubs and bars, gyms, betting shops and casinos were closed. Those in a “high” level areas were not allowed to mix with other households or meet up unless outside. Meanwhile, the “medium” level banned groups of more than six people meeting up and pubs and restaurants had to close at 10 p.m.

Whether or not bars, restaurants and gyms will be allowed to reopen on Dec. 2 is likely to depending on these alert levels.

Coronavirus case numbers stabilizing
The government introduced a second lockdown early in November in a bid to curb a second wave of infections. It said at the time that it hoped to lift the restrictions on Dec. 2, although this would be depending on Covid case numbers.

The U.K. has recorded over 1.5 million coronavirus cases to date, according to data from Johns Hopkins University, giving it the third-highest number of recorded infections in Europe, after France and Spain. It has reported 55,120 coronavirus-related deaths.

There are signs that the number of new infections have started to stabilize in the country, however. The latest R number (the number of people that an infected person could be expected to pass the virus onto, on average) is estimated to have fallen to between 1 to 1.1, with a daily infection growth rate range of 0% to +2% as of 20 November 2020, government data shows.

UK expected to announce it will lift lockdown soon — with conditions attached, CNBC, Nov 23

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This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

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