Nicky Morgan: Covid-19 job losses and business failures inevitable

What next for the UK financial services industry?

Jenna Brown
Former Culture Secretary Nicky Morgan

Former Culture Secretary Nicky Morgan

Not all businesses will be able to survive the coronavirus pandemic and there will be inevitable job losses as the country emerges from lockdown, Nicky Morgan has said.

Baroness Morgan of Cotes, the former Culture Secretary and chair of the Treasury Select Committee, said redundancies and company failures in certain sectors, such as hospitality, were unavoidable. John Glen: Financial services growth and competition will be fostered post-crisis However, she added: "How the financial services sector responds to supporting those will be very important. Businesses that are perfectly viable but struggling to open will need support." Speaking at the Personal Investment Management & Financial Advice Association (PIMFA) Virtual Fest today (3 June), Barone...

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