Jobless surge by 649,000

” The number of jobless has surged by 649,000 last month and this is before the furlough scheme has even ended.

Some commentators suggest that this increase is not as much as expected but a much larger increase is on the cards shortly.”

The number of people claiming work-related benefits last month – including the unemployed – was 2.6 million.”

Nigel Holland

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UK banks fear up to 800,000 firms employing 3 million could go bust in the next year if they cannot defer repayments on government-backed loans.

The lending industry is proposing a student loans-type scheme, where coronavirus loans can be converted into a tax debt repayable over a decade.