The govt reports a flood of applications to put workers on temporary leave. FMTNews Economy UK Jobs
Sunak speaks during a media briefing on the coronavirus outbreak in London two weeks ago.
“The grants … will help pay the wages of more than a million people – a million people who if they hadn’t been furloughed would have been at risk of losing their jobs,” Sunak said at the government’s daily news conference. This is based on the watchdog’s projection that Britain’s economy will shrink by 35% during the three months to June due to lockdown restrictions.
Bank of England Governor Andrew Bailey said on Friday that banks needed to speed up lending under the programme and that it would help if the government underwrote 100% of lending to the smallest firms, removing the need for banks’ own credit checks.
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