Economics
One of World’s Least Generous Safety Nets Awaits U.K. Unemployed
- Out-of-work benefits will give just 17% of average wage: IFS
- Analysis adds pressure on Sunak not to reverse welfare boost
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Millions of Britons at risk of losing their jobs because of the coronavirus pandemic face one of the most dramatic losses of income in the developed world, increasing pressure on the government not to scale back emergency welfare next year.
Analysis published by the Institute for Fiscal Studies Friday highlighted the perils of the shift from preserving jobs to allowing the welfare system to take the strain of protecting incomes. Many families will fall into the safety net for the first time as companies adjust to the new reality of the pandemic.