Rishi Sunak today confirmed the furlough scheme will not be continued – and said he could not save every business and job affected by the pandemic.
Unveiling his next steps, the Chancellor said support will be available for people working a third of their regular hours, with the government set to top up wages.
He said small and medium sized enterprises would benefit from the programme when it launches in November, offering an alternative to making staff redundant.
Mr Sunak also announced VAT would remain at five per cent for businesses in the hospitality and tourism industries, stating: “Today’s measures make an important evolution of our approach, our lives can no longer be put on hold.”
Yesterday the UK recorded the third highest ever daily total, with 6,178 in 24 hours, while the death toll rose by 37.
The moves come after Prime Minister Boris Johnson said the country could have to deal with up to another six months of coronavirus restrictions.