Economics
2 Million Britons Seen Consigned to Unemployment by Sunak Plan
- Pulling back support shifts emphasis to economic adjustment
- Goldman sees U.K. unemployment rising to 9% later this year
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A surge in U.K. unemployment is virtually inevitable after Chancellor Rishi Sunak reduced the government’s defense against the economic chaos of the coronavirus.
Gone is the furlough program that may have saved millions of jobs in the early days of the pandemic yet which proved too expensive to last. In its place is a plan to subsidize wages for the next six months, a move that Goldman Sachs economists say could tip an additional 2.2 million out of work.