Businesses large and small broadly got what they wanted from Rishi Sunak in the short-term. Whether corporation or corner shop, what matters at the moment is how companies get through the next week, not next year, and that means support to retain jobs and offset the cost of enforced closure. Employers and employees had to endure an unnecessary 10-day wait for confirmation that Boris Johnson’s COVID roadmap will be backed by an extension of furlough, the business rate holiday and a fresh round of cash grants, but it was welcome nonetheless. Budget calculator: Find out if you are better or worse off If and when the employment support scheme finally ends in September the state will have been paying the wages of millions of workers for 18 months, a remarkable intervention to which millions will literally owe their jobs. The extension runs beyond the provisional 21 June date set by the prime minister for full reopening of the economy offers both a cushion and a back-stop. Advertisement It allows for delays on the route out of lockdown, as well as a cushion for companies still profoundly uncertain about what recovery will look like. Will consumers flock back to shops, restaurants,… Read full this story
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