Keeping the lifeline until June 2021 would save a million jobs and help growth, says Garry Young of the National Institute for Economic and Social Research
The government’s furlough scheme – known formally as the coronavirus job retention scheme – has been an undoubted success. It has kept unemployment down despite a deep contraction of around a quarter in what the economy produces. It has directly helped protect 9.5m jobs and been a lifeline for those employees who would otherwise have suffered a loss of income and worried about their future.
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