Furlough scheme offered 11.9 million a lifeline, so what’s next for those depending on it? | Personal Finance | Finance
It is not clear how many of those remain on it now and how many will become unemployed.
As of September, nearly one million workers are believed to still be on the scheme according to research by the Resolution Foundation.
Forecasters including the Bank of England believe there will be a rise in unemployment in the wake of the furlough scheme’s end.
Despite these warnings, the Chancellor of the Exchequer Rishi Sunk has said it is the right time to close the scheme.
International travel and other businesses still dependent on the scheme will be hit the hardest.
Some employers have warned they cannot afford to continue employing staff without financial help.