What does a recession mean for Greater Manchester?
These headlines and statements this morning are enough in themselves to set alarm bells ringing, but what does a recession actually mean? And how is this set to impact Manchester moving forwards?
The Chancellor has made no bones about it: The UK is in for tough times.
These headlines and statements this morning are enough in themselves to set alarm bells ringing, but what does a recession actually mean? And how is this set to impact Manchester moving forwards?
ADVERTISEMENT
What is a recession and how does it affect people?
The coronavirus pandemic has wreaked havoc on nations worldwide, causing the value of goods and services – widely known as a country’s Gross Domestic Product (GDP) – to plummet.
This has led to economies shrinking.
ADVERTISEMENT
When shrinking occurs over two consecutive quarters (basically six months in a row), it is known as a recession.
The last recession was the 2007-08 global financial crisis, when GDP in Britain fell by over 6%.
However, the latest stats from the Office of National Statistics (ONS) show that GDP in 2020 has fallen by a whopping 20.4%.
ADVERTISEMENT
Many big nations have also suffered, with Germany and US suffering large declines.
But the stats show that the UK is officially one of the worst-hit countries in the continent.
What does this mean for Greater Manchester?
Manchester City Council Leader, Sir Richard Leese, has already said that “recovering from the impacts of the coronavirus period and getting the city back on a positive trajectory is the greatest challenge we have faced in our lifetimes.”
The cold hard facts are that many more people in Manchester will lose their jobs as a result of the UK being in a recession.
Finding a new job can also prove more challenging in this sort of economic climate. Companies are left facing increased costs, which may mean they are reluctant to hire.
ADVERTISEMENT
Property values can also fall drastically.
However, this recession has long been anticipated. The council is putting a recovery plan in place – where ‘steps will be taken to support the city’s business base and help residents into employment while continuing to bring forward development and initiatives to stimulate the economy’.
Mr. Leese added: “We will be working closely with Manchester residents and businesses, as well as health services and other partner organisations including the voluntary and community sector, to keep this great city moving forwards. We want to ensure that nobody gets left behind and everybody can contribute to the recovery.”
How long will the recession last?
At this point, it is difficult to say.
The most recent UK recession more than 10 years ago lasted for over 12 months, but a lot will depend on how businesses can get back on their feet.
ADVERTISEMENT
The expectations are that the economy will see significant improvement if a vaccine is found.
Whilst Chancellor Sunak spoke of ‘difficult choices’ having to be made over the coming months, he did offer a ray of optimism for the tricky path ahead.
“We will get through this,” he pledged.
“And I can assure people that nobody will be left without hope or opportunity.”
News
Manchester firefighter surprises partner with proposal during new recruits parade
Danny Jones
We’re a sucker for a wholesome little video as we know you are, which is exactly why we thought of you lot when we came across this video of a newly graduated Manchester firefighter surprising his partner with a heartwarming proposal.
Just the kind of heartwarming that usually sets us off after a long week at work.
The clip shared by Greater Manchester Fire and Rescue Service (GMFRS) on Thursday, 25 April, shows Manc fireman James popping the question to his girlfriend sat unassumingly in the audience at a recent passing out ceremony.
Pass out ceremonies are when trainees go from recruits to fully qualified firefighters after completing their intensive operational training. It’s a long-standing tradition in the emergency services where friends and family gather to celebrate their achievements – it’s almost like it’s the perfect opportunity…
As you can see, since the graduates are usually the centre of attention, James couldn’t help but size his moment and instead of walking and lining up normally like everyone else, he decided to head straight over to his wife-to-be and get down on one knee.
You already know the rest.
Welling up immediately and barely able to remove her hands from her face, Melissa nods and says yes as the crowd cheers and the pair share a smooch.
Writing on social media, the GMFRS said: “We managed to capture a VERY special moment at our new recruits pass out parade today… Congratulations to James and Melissa!”, adding, “Certainly one way to start your new career”.
If we don’t see all the groomsmen dressed as firefighters on a random viral video sometime soon we’re going to be gutted.
All the best to the happy couple and if you’ve got any more lovely clips like this to send in so we can make ourselves cry (in a good way), you know what to do.
Featured Images — Greater Manchester Fire and Rescue Service
News
Peter Kay’s statement in full as his Co-op Live gigs are postponed for SECOND time
Daisy Jackson
Peter Kay has issued a statement after his two gigs at Co-op Live were rescheduled – again.
The Bolton-born comedian was supposed to officially open the huge new Manchester venue last week, but ‘power supply issues’ forced it to be rescheduled.
He was then supposed to perform on Monday and Tuesday of next week instead, but these two shows have been pushed back even further.
Peter Kay has now issued a statement addressing the postponement, saying it’s ‘very disappointing’.
He also said: “I know, I can’t believe it either.”
He’s even amended his own tour poster to add the disclaimer: “(If they actually open the place).”
The star joked that he was now the ‘ninth artist in the world’ to play there.
The legendary comic wrote: “To everybody with tickets, my apologies once again but unfortunately the Co-op Live still isn’t ready and so, as yet, remains untested for a large-scale audience.
“Consequently, they are having to reschedule my two shows yet again (I know I can’t believe it either).
“The first available dates the shows can reschedule to are as follows: Mon 29th April to Thurs 23rd May, Tues 30th April to Frid 24th May.
“Tickets will be transferred, or refunds given if the new dates aren’t suitable.
“It’s very disappointing but your safety is important, and I won’t compromise that.”
Co-op Live said in a statement: “Since making the difficult decision to postpone the live shows at Co-op Live due to take place this week, we have been undertaking an extensive protocol of testing critical procedures to ensure all areas are ready for fans.”
They’ve also made the rather bold decision to once again assure fans that the next raft of shows now set to be their opening gigs – big dates from Boogie Wit Da Hoodie and Olivia Rodrigo – are still set to go ahead as scheduled.
Touch wood.
“To ensure that we can run all shows safely, regretfully we have now had to take the decision to reschedule the planned The Black Keys and Peter Kay shows.
“Both The Black Keys and Peter Kay have graciously agreed to reschedule their shows. The Black Keys will now perform on 15 May 2024, and Peter Kay will now perform on 23 and 24 May 2024.
“All tickets remain valid and ticket holders will be contacted by their point of purchase. Refunds will be available for those who can no longer attend.
“We deeply appreciate the impact this will have on excited fans, and sincerely apologise for the inconvenience that this change will undoubtedly cause. Rescheduling Peter Kay and The Black Keys will give us the extra time we need to continue testing enhanced emergency communications thoroughly.
“This is vital to satisfy the rigorous set of guidelines and protocols that are necessary for a venue of this size to ensure that our fans, artists and staff have the safest experience possible.”