The Chancellor’s statement unveiling his winter economy plan offered a reality check on living with coronavirus. Despite pressure from the opposition and a handful of Tory MPs to extend the furlough scheme, Rishi Sunak confirmed that it would come to an end in October. In its place, he announced a new jobs support scheme – whereby the government and firms will top up the wages of workers who are unable to return to full time work but are working at least a third of their hours.
This is aimed at making sure businesses with reduced demand keep on their employees. But it’s also an acceptance that jobs in some industries cannot be saved. Those businesses which are unable to operate at all will have little use for the scheme. Sunak holds the belief that there is little point keeping people on furlough for a job that no longer exists.
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