The UK’s Times reports that Rishi Sunak is preparing to “wean” businesses and workers off the government’s furloughing scheme by cutting wage subsidies amid concerns that the nation has become “addicted”.
The chancellor will announce plans next week to wind down the scheme from July as part of an attempt to get people back to work as the lockdown is eased.
He met officials yesterday to discuss the options, which include cutting the 80 per cent wage subsidy and lowering the £2,500 cap on monthly payments. The Treasury is also considering plans to bar self-employed workers with trading profits of more than £30,000 from claiming government grants. At present the threshold is £50,000.
Mr Sunak said this week that the scheme was not sustainable …