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Speaking on the Chancellor’s proposed plan to reject calls for an extension of the furlough scheme, Simon Michaels says “The Chancellor finds himself in the ultimate ‘rock and a hard place’ over furlough. There is no question that furlough has enabled businesses to survive since March last year. Removing furlough too early will certainly result in job losses as businesses still unable to open will assess where they can easily reduce costs.
“Is this the time for the Chancellor to consider that one solution is not right for all industries? Certain sectors have come through the pandemic and are flourishing where others are still in need of support. This is the time to realise that the hospitality and travel sectors are likely to need furlough well into 2022. I appreciate, the Government does not have a bottomless pit of cash for everyone, so tailored support must be considered.”
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