UK considers wage cut for 6.3m people on furlough - with plans to reduce pay to 60%

UK considers wage cut for 6.3m people on furlough - with plans to reduce pay to 60%
Rishi Sunak has said that he is looking at the best way to phase the scheme out and ease people back to work "in a measured way" - with several ideas now on the table
https://www.mirror.co.uk/money/uk-wage-cut-furlough-60-21977601

Worrying pictures show gridlocked London streets as people return to work
Workers have been urged to avoid public transport when commuting in
https://www.mylondon.news/news/zone-1-news/gallery/worrying-pictures-show-gridlocked-london-18231001

London rush hour commuters 'nervous' after PM announces careful steps to ease lockdown
Commuters said they were worried about having to travel on busier trains as some returned to work following the gradual easing of coronavirus lockdown measures.
https://www.itv.com/news/london/2020-05-11/london-rush-hour-commuters-nervous-after-pm-eases-lockdown-measures/

Coronavirus: French arrivals exempt from UK quarantine plans
https://www.bbc.com/news/amp/business-52610594

Furlough scheme set to be extended to September
Ministers are expected to extend the state bankrolling of wages until the end of September, albeit at a reduced rate of 60pc, while also topping up the pay ...
Telegraph.co.uk
https://www.telegraph.co.uk/business/2020/05/10/job-retention-scheme-set-extended-september/


When will the Government's furlough scheme end? Latest updates from Rishi Sunak
Following Boris Johnson's speech last night detailing the first "careful steps" being taken to ease lockdown, ministers are examining how to wean Britain off ...
Evening Standard
https://www.standard.co.uk/news/uk/when-government-furlough-scheme-end-a4437136.html

BREAKING: UK COVID-19 job retention scheme extended until October
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Sky News
https://www.youtube.com/watch?v=iXxluJ2wO8E


UK coronavirus live: Sunak extends furlough job retention scheme until end of October
UK coronavirus death toll passes 40000, official figures say; Health secretary dodges questions over people's legal right to refuse return to work; further ...
The Guardian
https://www.theguardian.com/world/live/2020/may/12/uk-coronavirus-live-sunak-expected-to-extend-furlough-scheme-as-lockdown-confusion-continues


Rishi Sunak extends furlough scheme until end of October but will cut 80% rate from July
https://www.youtube.com/watch?v=Yc3pumdJ_I8

'Income tax hikes, a public sector pay freeze and scrapping triple lock on pensions' to foot ‘£300bn’ Covid-19 bill
https://www.itv.com/news/2020-05-12/ministers-urged-to-reject-proposals-for-cuts-to-foot-300bn-covid-19-bill/?fbclid=IwAR1o58fgGoZv9gX8hjzmgfERexxUwHNDagfKXfFnK6DZO5-YVpcqwcu3JRQ

Hundreds of workers report their own employers for furlough fraud
Chancellor Rish Sunak announced yesterday that the furlough scheme has been extended
https://www.manchestereveningnews.co.uk/news/uk-news/hundreds-workers-report-employers-furlough-18243842

redundancies: Companies plan to AXE staff after letting taxpayers pick up the tab for wages first
The Government extended the furlough scheme last week until October
It was designed to prevent mass job losses and was praised by business leaders
Some companies will make furloughed staff redundant while major UK firms have announced more job cuts
Do you have any rights if this happens?
Has your company furloughed you and will now make you redundant? Get in touch: editor@thisismoney.co.uk
https://www.thisismoney.co.uk/money/news/article-8340695/Can-redundant-furlough-Companies-plan-axe-staff.html

Morning Coffee: Pay cuts at Deutsche Bank, bigger cuts at HSBC. And why banks are hamstrung in handling COVID-19
https://news.efinancialcareers.com/uk-en/3003827/pay-cuts-at-deutsche-bank-bigger-layoffs-at-hsbc

Coronavirus: PM announces lockdown changes from Monday in England
Boris Johnson said people will be allowed to meet in gardens and other private outdoor spaces, while some schools can reopen.
https://news.sky.com/story/coronavirus-pm-announces-lockdown-changes-from-monday-in-england-11996373

Next steps out of lockdown will be announced today
There will be an update on schools and on meeting friends and family
https://www.walesonline.co.uk/news/uk-news/next-steps-out-lockdown-announced-18321305

UK consumer confidence hits lowest level since financial crisis - business live
Rolling coverage of the latest economic and financial news, as the GfK consumer confidence index hit decade lows.
The Guardian
https://www.theguardian.com/business/live/2020/jun/05/uk-consumer-confidence-financial-crisis-covid-19-coronavirus-business-live


UK consumer confidence touches new decade low as COVID hits economy - GfK
British consumer confidence in late May fell to its lowest level since the global financial crisis over a decade ago as people worried about a rise in ...
Reuters UK
https://uk.reuters.com/article/uk-health-coronavirus-britain-consumers/uk-consumer-confidence-touches-new-decade-low-as-covid-hits-economy-gfk-idUKKBN23B3FH

Martin Lewis explains the changes for furloughed and self-employed workers from July
Money expert Martin Lewis was back on our screens on Thursday night for the new series of the Martin Lewis Money Show where he explained all of the latest coronavirus changes for workers
https://www.mirror.co.uk/money/martin-lewis-explains-changes-furloughed-22140672

UK jobs outlook gloomiest in nearly 30 years amid coronavirus pandemic
https://www.theguardian.com/business/2020/jun/09/uk-jobs-outlook-covid-19-pandemic-manpower-furlough-scheme

Shops and businesses that are banned from reopening on June 15 - full list
https://www.mirror.co.uk/money/shops-businesses-banned-reopening-june-22163352

Coronavirus: UK to see worst economic contraction among developed countries
The OECD said economic recovery remains highly uncertain as most countries are vulnerable to a second wave of COVID-19 infections.
Sky News
https://news.sky.com/story/coronavirus-uk-to-see-worst-economic-contraction-among-developed-countries-12003948

UK economy likely to suffer worst Covid-19 damage, says OECD
Britain's economy is likely to suffer the worst damage from the Covid-19 crisis of any country in the developed world, according to a report by the Organisation for ...
The Guardian
https://www.theguardian.com/business/2020/jun/10/uk-economy-likely-to-suffer-worst-covid-19-damage-says-oecd


UK faces biggest hit from coronavirus of any major economy in the WORLD
The OECD's latest estimates predict that GDP will nosedive by 11.5 per cent this year, even more than the 11.4 per cent expected in France and 11.3 per cent in ...
Daily Mail
https://www.dailymail.co.uk/news/article-8405873/UK-faces-biggest-hit-coronavirus-major-economy-WORLD.html

Coronavirus: UK economy could be among worst hit of leading nations, says OECD
By Andrew Walker
BBC World Service economics correspondent
https://www.bbc.co.uk/news/business-52991913

OECD: UK economy to take world’s biggest hit from Covid-19
https://www.cityam.com/coronavirus-uk-to-see-worst-economic-downturn-warns-oecd/

UK economy could shrink by 35% with 2m job losses, warns OBR
This article is more than 1 month old
Unemployment could hit 10% by end of spring with public borrowing rising at fastest rate since WWII
https://www.theguardian.com/business/2020/apr/14/uk-economy-could-shrink-by-35-with-2m-job-losses-warns-obr

Britain's GDP falls 20.4% in April as economy is paralysed by lockdown
Britain's economy slumped by 20.4% in April in the biggest monthly decline since records began, as the coronavirus lockdown paralysed the country.
The Guardian
https://www.theguardian.com/business/2020/jun/12/britains-gdp-falls-204-in-april-as-economy-is-paralysed-by-lockdown


UK economy shrinks record 20.4% in April due to lockdown
The contraction was the biggest monthly decline on record, as the full impact of lockdown was felt.
BBC News
https://www.bbc.co.uk/news/business-53019360

More than 600,000 UK workers lose their jobs amid lockdown
The number of workers on UK payrolls dived more than 600,000 between March and May, official figures suggest. The Office for National Statistics said there ...
BBC News
https://www.bbc.co.uk/news/business-53060529

UK's erupting fraud scandal confirms furlough was a nonsensical mistake
It has proved unfair, distorting and regressive; we need to replace it now
https://www.telegraph.co.uk/news/2020/06/18/uks-erupting-fraud-scandal-confirms-furlough-nonsensical-mistake/

Marks & Spencer to cut 950 job cuts in 'first wave' of cull
The announcement comes after fellow British chains John Lewis and Boots have already shed thousands of staff in the wake of the pandemic.
Daily Mail
https://www.dailymail.co.uk/news/article-8540029/Marks-Spencer-announce-hundreds-job-cuts-days.html


Marks & Spencer with stores in Norwich and King's Lynn announces 950 jobs at risk
High street retailer Marks & Spencer, with stores in Norwich and King's Lynn, has said 950 jobs could go to make the business “leaner”.
Eastern Daily Press
https://www.edp24.co.uk/business/m-s-with-stores-in-norwich-and-king-s-lynn-announces-950-jobs-at-risk-1-6754076

(GDP)
UK to plunge into deepest slump on record with worst GDP drop of G7
Official measure to be declared this week as coronavirus lockdown shrinks GDP by 21% in second quarter
https://www.theguardian.com/business/2020/aug/09/uk-to-fall-into-deepest-slump-on-record-with-worst-fall-in-gdp-among-g7

BREAKING: 730,000 jobs lost since lockdown began
https://www.youtube.com/watch?v=hCESxus9Q8o

SIX MILLION furloughed workers broke the rules by doing their jobs from home during lockdown, as a major report finds the ban on working was 'routinely ignored' and people were 'compelled' to work by bosses
https://www.dailymail.co.uk/news/article-8654405/SIX-MILLION-furloughed-workers-broke-rules-doing-jobs-home-lockdown-major-report-finds.html

Brits warned ‘go back to work or risk losing your job’


Read more: https://metro.co.uk/2020/08/28/brits-warned-go-back-work-risk-losing-job-13189724/?ito=cbshare

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Furlough extension: Should Rishi Sunak extend support? Comparisons with Germany explored
RISHI SUNAK has come under increased pressure in recent months to further extend the government's support schemes, specifically the furlough scheme which has supported millions of workers since launching. This pressure has ramped up in recent days, given that Germany has extended its own furlough schemes and comparisons are being made against the UK.
https://www.express.co.uk/finance/personalfinance/1331736/furlough-extension-rishi-sunak-extend-support-uk-Germany