UK furlough scheme spending exceeds 20 billion pounds
In a weekly update, the Treasury said claims under its Job Retention Scheme - which pays 80 percent of salary costs for furloughed staff - had risen to 20.8 billion pounds from 19.6 billion pounds the week before
General view of the Canary Wharf financial district, following the outbreak of the coronavirus disease (Covid-19), in London, Britain, May 5, 2020/ Reuters
Britain's finance ministry said on Tuesday it had spent more than 20 billion pounds on a furlough programme that is supporting 9.1 million jobs, as well as lending over 38 billion pounds to companies.
In a weekly update, the Treasury said claims under its Job Retention Scheme - which pays 80 percent of salary costs for furloughed staff - had risen to 20.8 billion pounds from 19.6 billion pounds the week before.
Banks had lent small businesses 26.34 billion pounds of 100 percent state-backed loans, while larger firms had received 10.11 billion pounds from the government's main lending scheme, with the biggest companies getting an extra 1.77 billion pounds.
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