Businesses are entering the second phase of this crisis

Whereas liquidity was the be-all and end-all at the start of the crisis, now the focus has shifted to the resilience of business balance sheets. We are now well into the second phase of crisis for companies as they file accounts, withdraw guidance and alter their business assumptions.

The good news is that the capital markets are well and truly open. Since the lockdown over £30bn of debt has been raised by UK companies across a range of sectors. Indeed, there has been a doubling of issuance in the US, the world’s largest and deepest capital market.

Companies have started

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Worst month since the crisis? These house price falls are only the beginning

The first real sign of how the lockdown damaged the property market is here: the lender Nationwide said house prices fell by 1.7pc between April and May, the biggest monthly decline since February 2009.

These figures don’t really reflect the market or the economic forces at work – just the impact of the housing market freeze. In fact, they’re only a taste of what’s to come.

To understand the reality of the situation, we must wait until the autumn for crunch time – when furlough ends, unemployment rises and consumer sentiment collapses. Property owners will no longer be supported by

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This crisis could spell the end of the office as we know it

Another factor in the persistence of the old office model was the problem of collective action. If a single individual wanted to work entirely from home, not only did they need to get the agreement of their employers, but to make this socially acceptable and enjoyable, there would need to be other people doing the same thing.

This is exactly what has happened during the lockdown. The consequence is that many people would now prefer to work at least one day a week from home – and some every day. Many businesses must now be asking themselves whether they need

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Why does the Government’s ‘can-do’ attitude to solving this crisis stop at women?

The scale and speed of the financial support schemes that have been put in place to help Britons through this crisis are astronomical. But one segment of society has been woefully overlooked – knowingly, in some cases – and it is no small segment at that.

Women, who make up 51pc of the population, are bearing the economic brunt of this pandemic and the knock-on effects will last for generations. 

The implication of this oversight, as we report in our cover story today, is that the events of the past three months have set gender pay parity back by a

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