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Daily Record
Daily Record
Entertainment
Kirsten McStay

Hundreds of thousands could lose jobs across UK next month as furlough scheme ends

Next month, the furlough scheme that has paid the wages of more than 11million people in the UK during the coronavirus pande mic will come to an end.

But as the scheme comes to an end, many fear that hundreds of thousands of people could be left redundant instead of returning to work.

Even though almost all restrictions in the UK now have now been lifted and most businesses able to trade virtually as normal, millions are still taking advantage of the scheme.

According to The Telegraph, analysis by ING found that 7.4 per cent of workers older than 55 are still on furlough and 6.3pc of employees under 25 are being paid through the Coronavirus Job Retention Scheme.

Chancellor Rishi Sunak is to roll out grants encouraging companies to take on apprentices, and support for people at risk of long-term unemployment.

Around 9.4m people have been furloughed since March 2020 at some point (Getty Images)

The Bank of England believes unemployment will not rise from its current level of 4.8 per cent, but other economists believe it will rise to 5.6 per cent.

That would mean an increase of around 260,000 people unemployed.

On July 2 the Government said 2.4million people remained on furlough.

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