UK is heading for “major recession”, said Rishi Sunak (File)
London:
UK Finance Minister Rishi Sunak reiterated his previous warnings on Thursday that he would not be able to save all jobs and that the UK was headed for a “significant recession” hit by the foreclosure of the COVID pandemic -19.
One day after tabling a mini-budget in Parliament, the Indian-born Chancellor of the Exchequer admitted that despite his £ 30 billion package, he would not be able to “protect every job” when businesses would reopen after three years. stop of the month.
“I am absolutely worried about the state of the economy,” he told Sky News.
“We are entering, as I said before, into a very significant recession. We know it is happening,” he said.
He said the forecast of mass unemployment “weighed very heavily on me”.
But on a note of optimism, he added: “We don’t want people to be left without hope or opportunity.”
He urged Britons to “have confidence” to go back to restaurants “because of the actions restaurants have taken” by hooking up the new Eat Out to Help Out discount system to help the hospitality industries with sustained discounts by the government on restaurant meals.
He conceded, however, that some of the 1,000 pound bonuses offered to take staff on leave would go to companies that already retained workers.
In his summer statement to the House of Commons on Wednesday, Sunak said the “job retention bonus” could cost up to £ 9 billion if each worker currently on leave, on compulsory leave, is maintained.
Rishi Sunak reiterated the Conservative Party manifesto’s commitment to expand free parking in the hospital for people with disabilities, frequent outpatients and parents of sick children who stay overnight and night workers.
Speaking to companies that have yet to remain closed under lockdown rules, such as the beauty industry, Rishi Sunak said an announcement would come “very soon” on which companies could reopen.
(With the exception of the title, this story was not edited by GalacticGaming staff and is published from a syndicated feed.)
