London: The U.K. Business Secretary, Alok Sharma, has rejected calls to extend the job retention scheme, stating that the Government’s main priority is to re-open the economy in a ‘cautious and phased manner’.
The job retention scheme, known as furlough, sees the U.K. Government foot much of the employment bill for U.K. businesses. It provides support to over 10 million jobs.
Chancellor Rishi Sunak has faced growing pressure to extend the scheme, being warned by economists that ending the scheme too early could result in a new wave of unemployment.
Despite this, Sunak has set out measures to reduce the scheme over the next month, seeing it end completely by the end of October. The Chancellor stated in the past that the scheme it is ‘not sustainable’.