The UK is opening up after the coronavirus lockdown but the financial impact of the virus, including the country facing its worst outlook for jobs for 30 years, and the economy contracting faster than after the 2008 financial crash, means the downturn is far from over.
More than a quarter of workers are now on the government’s furlough scheme, with those in the leisure, retail, and hospitality sectors some of the worst affected. It has so far cost the Treasury around £20bn. Some will have already lost jobs but many others will have their position at risk as the scheme begins to be phased out.
Although the furlough scheme runs till October, many businesses might start to look at forecasting and realise positions which they hoped to bring back, they simply cannot afford to have.
In a statement to the House of Commons on