Job Retention Scheme may cost £30-40bn

That is according to analysis by the Resolution Foundation, using the latest figures on take-up of the scheme from the British Chambers of Commerce .

The Resolution Foundation think tank calculates that if that pattern is repeated across the economy, then at least a third of private sector employees - somewhere between 8 million and 11 million people - will be furloughed. Mark Reynolds, chief executive of construction company Mace Group, said he had put 800 staff on furlough,

"But with recent surveys implying that at least a third of the private sector workforce could be paid through the scheme, it is likely to cost as much as £30bn to £40bn over three months. The economic and social cost of mass unemployment in the absence of such a scheme would be far, far greater."

What do you expect when you've got massive companies going on it. I thought it was to help small businesses not billionaires save there own pockets

Sounded great at first, i will benefit in the short term, but its definitely flawed. They expected 10% to apply + much more have but in hindsight why would an employer allow someone they would have let go to get 80% pay yet someone they would have kept to suffer on stat sick pay

So roughly 10% what it cost to bail the banks out in 2008 slump then... seems fair to me!!

Luckily big wealth football clubs like Tottenham, Liverpool, Newcastle, Bournemouth who earn 10s or 100s of millions are not making things worse. Oh hang on......

May last 2 or 3 times as long as well.......

Still thousands losing out, such as seasonal workers in tourism starting new jobs in March. newstarterfurlough

Pointless,state spending should be geared to the economy we have not the economy we would like to havePretending that the outbreak will definitely be over in time to make saving companies worthwhile is hopelessly optimistic & likely to cause a rush to relax restrictions too early

Just sack everyone and get them on benefits then, huh? Did any sensible commentator on this just simply overlook that three quarters of a trillion of a rescue package might just be the tip of the iceberg? SHOCK NEWS for later: It will need paying back. You heard it here first.

So what

You could soften the blow bbc by donating the next 12 month's of TV license fees? That would be a great gesture to the NHS wouldn't it?

Well the self employed still haven’t seen a penny yet....

So?

buybritish and the problem goes away!

I'll wager the cost being far higher if we don't.

Yes but when restrictions are lifted people will have money to spend and that will lift the economy with money for exchequers coffers, what goes around comes aroundv

Would have been cheaper to push out a temporary UBI.

UBI would be chepaer.

2008 Bank rescue package: £500 billion.

Add it to the bill China

So fucking what, people won't die!

We will pay for it in the long run but really you wouldn't mind.

Stopping multi-million Pound companies such as Football Teams and Racing Teams will reduce the costs. These are just using it to save themselves money even though they can easily afford to sit it out. The scheme should only be open to businesses genuinely in need of assistance.

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