An abrupt end to the UK furlough scheme would be self-defeating | Nils Pratley
by Nils Pratley from on (#534ST)
The Treasury cannot afford to spend 10bn a month indefinitely, but a cliff-edge end to Covid-19 wage subsidies is not the answer
What's the safest way for Rishi Sunak to wind down his wage-support furlough scheme? Well, start by finding the correct language. The imagery in the current political talk about weaning" businesses off an addiction" is absurd.
When the chancellor introduced the coronavirus job retention scheme on 20 March, he said it was to protect, as far as possible, people's jobs and incomes". There will be trouble if, less than two months later and with lockdown still in place, companies and their workers are portrayed as needy infants or addicts who should know better.
Continue reading...