The furlough scheme has subsidized 80% of wages for millions of workers furloughed as a result of the pandemic, but Sunak confirmed in July that it would be wound down as the country began to emerge from lockdown measures.
Chancellor of the Exchequer Rishi Sunak leaves 10 Downing Street after attending a Cabinet meeting on 14 February, 2020.U.K. Finance Minister Rishi Sunak is set to announce a new emergency package of measures to contain unemployment, replacing the country's furlough scheme which is due to expire next month.
However, with many of those workers having been employed by the hospitality industry and the government now being forced to reintroduce some restrictions due to a spike in Covid-19 infections, economists have warned that the country could face a significant surge in unemployment in the fourth quarter.
British media reports so far have suggested that Sunak could announce more wage subsidy initiatives and financial help, while some have suggested that the kind of salary top-up scheme currently operating in Germany and France could be on the table.
Source: News Formal (newsformal.com)
*Chancellor of the Exchequer*
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