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Chancellor of the Exchequer Rishi Sunak is putting 2 million viable jobs in peril by ending his coronavirus jobs support program too early, risking an unnecessary unemployment crisis, according to a think tank.
The Institute for Public Policy Research estimates that 3 million workers will still be relying on the plan when it ends in October, two-thirds of whom are in roles that would be sustainable if the help was extended into next year.
Removing the support too early would “cause long-lasting damage to the economy and to people’s lives,” the authors of the report said.
90,653 in BrazilMost new cases today
-1% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.023 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
5.4% Global GDP Tracker (annualized), July