More than 700,000 people may lose their jobs, hours or earnings with today’s end to the furlough scheme, analysis suggested as Rishi Sunak announced a £500 million fund to help struggling families deal with rising bills this winter.
Despite higher than expected growth figures between April and June announced by the Office for National Statistics, growth figures for the rest of the year are expected to be lower, and the Treasury’s decision to wind up the furlough scheme will add to economic pressures.
The coronavirus job retention scheme, announced in March 2020 as Britain went into national lockdown, ensured the payment of 9.7 billion hours of work, according to estimates by the New Economics Foundation (NEF). The scheme was initially scheduled to end on April
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2021-09-30 17:00:00Z
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