Chancellor Rishi Sunak unveils new wage subsidy to save jobs

Mike Cherry, chair of the Federation of Modest Enterprises, referred to as it a “swift and significant intervention” but warned firms “are facing a incredibly hard winter”.

“Today’s support offer is the flipside of the coin to Tuesday’s Covid-19 company constraints,” he claimed.

Dame Carolyn Fairbairn, head of the Confederation of British Industry, claimed the intervention would preserve “hundreds of countless numbers of practical jobs this wintertime.”

“It is ideal to concentrate on enable on jobs with a foreseeable future, but can only be part-time even though need remains flat.”

On the other hand, economists warned the support will only cushion the blow the financial state faces from a next wave.

Ruth Gregory, economist at Capital Economics, claimed: “These steps will not remove the strike completely. That is why we think GDP will stagnate in the final three months of the year.”

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