Furlough to Be Extended Again Post-Lockdown

Furlough to Be Extended Again Post-Lockdown

After Business Questions today, Rishi Sunak will deliver his fourth update to the Winter Economy Plan (WEP) – a programme that now looks less like a plan and more like a panicky scrabble. Winter economic announcements will now have been made on 24 September, 9 October, 22 October, and 5 November. He is expected to extend the 80% furlough scheme beyond the lockdown for businesses that have to shut in Tier 3 areas in December. This is Rishi’s 12th Covid support package since becoming Chancellor; there’s a fine line between flexibility and incompetence…

Previously, Tier 3 furlough was only set at 67% of salaries. Today’s 20% post-lockdown furlough spending hike isn’t the only massive increase of cash to the system. The Bank of England has pumped a greater-than-expected further £150bn of quantitative easing into the economy. Good luck to post-pandemic taxpayers…

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