How lockdown is hurting British business – sector by sector
From hospitality to retail, from aviation to the public sector, coronavirus has left scars which will last for years
20 February 2021 • 5:00am
Never before in modern history have governments deliberately shut down their economies to the extent witnessed in the last year. In an effort to halt the rapid spread of Covid-19 policymakers have implemented a range of restrictions, including total shutdowns of key sectors.
Now, however, there is light at the end of the tunnel, with hundreds of thousands of Britons receiving vaccinations each day and Prime Minister Boris Johnson set to unveil a road map out of lockdown.
One of Britain s most famous architects has said offices left empty by the coronavirus crisis could become the residential tower blocks of the future and vacant shops could be turned into urban farms.
Lord Foster of Thames Bank, whose designs include the Gherkin in London and Apple s headquarters in Cupertino, California, said the pandemic has been an accelerant of trends that will reshape global cities.
The 85-year-old argued that these trends include the repurposing of buildings for alternative use and the pedestrianisation of larger swathes of urban centres.
Lord Foster told the Financial Times that the crisis sparked by the global outbreak of Covid-19 has brought Britain to a crossroads in the evolution of the office, millions of which have stood empty for the past year.
57 of 264 stores on Oxford Street already permanently shut with annual revenue falling to below £2billion
More than 50,000 retail and hospitality jobs set to be lost when third lockdown ends, industry group claims
New West End Company has warned the globally unique West End ecosystem is beginning to break down
It claims West End has suffered tougher financial hit from coronavirus pandemic than any other part of UK