Economic/financial effects & measures taken in 2020

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Economic/financial effects & measures taken in 2020 by Mind Map: Economic/financial effects & measures taken in 2020

1. UK

1.1. Measures and Effects

1.1.1. Buying government bonds.

1.1.1.1. Buying billions of pounds' worth of bonds pushes the price up.

1.1.1.1.1. Easier for people to borrow and spend money.

1.1.2. Fighting Coronvirus

1.1.2.1. furlough scheme, support for business and extra funding for the NHS.

1.1.3. QE

1.1.3.1. Keep economic growth stronger, wages higher, and unemployment lower than they would otherwise have been.

1.1.3.2. Increases the prices of things such as shares and property

1.1.3.3. Pension

1.1.3.3.1. Bigger payments into their pension schemes, reducing money available to invest elsewhere

1.1.4. Coronavirus

1.1.4.1. Shrink in world economy

1.1.4.2. Effective vaccine would give the recovery the biggest possible boost.

1.1.5. Recession

1.1.5.1. Lost jobs, Harder promotion, no pay rise

1.1.5.2. Effective vaccine would give the recovery the biggest possible boost.

2. Hungary

2.1. Measures and Effects

2.1.1. Economic Growth

2.1.1.1. More jobs, and companies are more profitable and can pay employees and shareholders more.

2.1.1.2. More money in taxes

2.1.1.2.1. Cut taxes, or spend more on benefits, public services and government workers' wages.

2.1.2. Coronavirus

2.1.2.1. Tax payment facilities for certain economic sectors

2.1.2.2. Compensations related to accommodation services

2.1.2.3. Wage subsidies

2.1.2.4. Moratorium has been introduced