Ending the furlough scheme could see unemployment rise above 10%, an economic research think tank has said
Mr Young said such incentives"look too small to be effective given the uncertainty about the economic outlook".Coronavirus crisis: Where jobs have been lost across the UK?
Unemployment could fall in 2021 as the economy recovers, but it will remain above the current 3.9%, it says. NIESR argues that extending the furlough scheme would be a"relatively inexpensive measure" for the Treasury, because it will prevent long-term unemployment. Latest data from HMRC shows that 1.2 million businesses have utilised the scheme to furlough 9.5m employees - costing the government £31.7bn in total. upped its projections for the cost of the government's response to the crisis and warned the UK remains on track for its worst economic slump in 300 years.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
10 Brits positive for coronavirus after returning from Spain sparked travel banTEN Brits testing positive for coronavirus after returning from Spain sparked the new 14-day quarantine rule. Holiday plans for thousands of people were thrown into chaos after an effective travel …
Read more »
Quarantine could be cut to 10 days for Brits returning from SpainOn Monday the Foreign Office changed its travel advice to advise against all but essential travel to the whole of Spain, including the Balearic and Canary Islands.
Read more »
New blow for Brit holidaymakers as entire Spain region faces lockdown in 10 daysMore than seven million residents could be ordered to stay at home if the rate of coronavirus across Catalonia does not improve in a further blow to holidaymakers travelling to Spain
Read more »
No 10 announces crackdown on junk food ads and deals – follow liveFollow all the latest developments
Read more »
10 best water pitchers to keep your drinks cold all summerIt’s officially summer and even some of the northern parts of the country are starting to hit high temps already, meaning we need cool, refreshing water, and we need it now! Whether you plan to pick
Read more »
'We had to eat our seeds for planting': 10 million in Sudan facing food shortagesUN warns coronavirus restrictions prevent access to most vulnerable and rising prices are leaving many going hungry
Read more »