U.K. Spending on Supporting Jobs Surpasses 50 Billion Pounds
- Government-backed loans to businesses top 57 billion pounds
- Ministers are preparing to end furlough program on Oct. 31
From Thursday, hospitality venues across England will be required to close by 10 p.m. and to limit transactions to table service
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The cost of the U.K.’s wage subsidies for workers has surpassed 50 billion pounds ($64 billion), according to figures published on Tuesday that lay bare the economic fallout from the coronavirus pandemic.
The government’s flagship furlough program -- due to end on Oct. 31 -- has received claims totaling 39.3 billion pounds, according to data released by the government’s tax authority, Her Majesty’s Revenue and Customs. Help for the self-employed totaled 13.4 billion pounds, bringing total spending on supporting workers to 52.7 billion pounds.