Rushi Sunak Britain hospital cover economy Bill Rushi Sunak Britain

UK's furlough scheme to be wound down as costs are 'not a sustainable situation'

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www.mirror.co.uk

Chancellor Rushi Sunak has reassured workers that there will be no "cliff-edge" cut off to the furlough scheme, in a warning that the initiative has already cost the Treasury £8billion.

It comes as ministers revealed the Job Retentions Scheme (JRS) is now covering nearly a quarter of UK jobs - 23% of the employed workforce.

About 2.5million people registered for the scheme last week, bringing the total claims to 6.3million. Under the initiative, the Government will fund 80% of workers' wages, up to £2,500 a month.

A total of £8billion has been issued so far, with an average payout of £1,269 - about half of the £2,500 maximum. The scheme is due to run through June, suggesting the total cost could exceed £30billion.

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