UK govt budget extends furlough scheme, unveils corporation tax hike to plug economic black hole of wage-paying jobs lost to Covid ...News

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The UK government will continue to pay the wages of people who have lost work due to Covid-19 until September, Chancellor Rishi Sunak told MPs in the House of Commons on Wednesday as the country's 2021 budget was unveiled. The extension of the UK's so-called "furlough scheme" means that the government will cover up to 80 percent of the wages of employees that businesses cannot afford to pay. The UK economy suffered a record GDP slump of 9.9 percent in 2020 – the biggest such decrease since records began in the 1940s. Despite the historic shrinkage, Sunak said the UK economy could return to its pre-pandemic level by the middle of 2022,

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Last updated : 03 March 2021 clock 05:46 PM

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UK govt budget extends furlough scheme, unveils corporation tax hike to plug economic black hole of wage-paying jobs lost to Covid ...News

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