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Thursday 09 December 2021 10:05 am  |  Updated:  Thursday 09 December 2021 11:58 am

City up in arms over looming imposition of plan B to curb Omicron

Households in the UK took on £1.2bn in consumer debt in November, the highest level nearly a year and a half, according to the Bank of England

City bigwigs today are up in arms over Prime Minister Boris Johnson’s stricter measures to curb the spread of the Omicron variant.

Speaking to Morning Wire in the Square Mile’s drinking hole, Leadenhall Market, one insurance broker said “at some point we’ve got to learn to live with it”.

“Enough is enough,” another City worker said.

Johnson imposed last night the government’s plan B, which involves advising people to work from where they can, mask wearing in a greater number of social settings and vaccine passports at larger venues such as night clubs and football stadiums.

Insurance brokers, fund managers and bankers adapted immediately to working from home under previous lockdown restrictions by constructing makeshift trading floors in their kitchens and bedrooms.

However, there are concerns that younger workers have missed out on valuable experience, knowledge and skills by spending little time in the office.

“It’s the young people who will suffer” under the new working from home advice, another City worker told Morning Wire

Joe Harris, 21, is fresh on the block in the City, recently taking up his first job in insurance.

“I’m new to the industry. Working from home isn’t ideal for me,” he said. 

“To learn in this industry you have to speak to people, but I feel disconnected working from home.”

Cancellations of Christmas parties have swept across the City since the Omicron variant emerged.

Broker Peel Hunt confirmed they have cancelled their festive gatherings.

Read more

Healey says growth is ‘pathway out of debt’ but bats away tax questions

John Healey speaking at JLR, with industrial robotic arms visible in the background

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