Two-thirds of small British companies have put at least some staff on temporary government-funded leave due to a drop in business caused by the coronavirus, a survey by the British Chambers of Commerce showed on Wednesday.
General view in New Brighton as the spread of the coronavirus disease continues, Liverpool, Britain, April 14, 2020. REUTERS/Carl Recine
This estimate from the Office for Budget Responsibility on Tuesday assumed 30% of staff would be furloughed, and that coronavirus restrictions on business remained fully in place for three months and then were partially lifted. Finance minister Rishi Sunak said he was “deeply troubled” by the prospect, and never promised to stop all job losses.
Businesses also have ongoing cashflow worries, with 17% reporting less than a month’s worth of cash in reserve.
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