Chancellor Rishi Sunak unveils new wage subsidy to save jobs Business

Mike Cherry, president of the Federation of Small Businesses, called it “a quick and meaningful response,” but warned businesses “are facing an incredibly tough winter.”

“Today’s support package is the flip side of the Covid-19 trade restrictions on Tuesday,” he said.

Dame Carolyn Fairbairn, head of the Confederation of British Industry, said the intervention would save “hundreds of thousands of viable jobs this winter”.

“It is right to target the aid on jobs of the future, but can only be part-time as long as demand remains stable.”

However, economists have warned that the support will only cushion the blow the economy takes from a second wave.

Ruth Gregory, an economist at Capital Economics, said: “These actions will not completely eliminate the blow. This is why we believe that the GDP will stagnate in the last three months of the year. “

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This notice was published: 2020-09-24 11:59:12