Monday, June 8, 2020

Op-Ed: A new jobs miracle needs to be laid on firmer foundations than the last (COVID-19)

It looked like good news. Last week the Office for Budget Responsibility revised down its estimate of the cost of the coronavirus job retention scheme — that’s the scheme under which the government pays 80 per cent of the wages of furloughed workers — by a cool £24 billion. It now expects it to cost a “mere” £60 billion. It’s worth dwelling on the scale of those numbers for a moment. They are staggering. Read More