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The chancellor has warned that despite new measures to protect the economy, it is losing more jobs – BBC News

 



The chancellor has put in place new measures to try to protect millions of jobs and the economy over the next six months as coronavirus restrictions limit growth. However, Rishi Sunak made it clear that despite billions of additional government support for his “winter work plan”, there would be more business failures and unemployment would continue to rise. Rishi Sunak has been under pressure to get a suitable replacement for the furlough scheme that will end in October. The new plans allow employees to receive 77% of their full-time salary if they have to work part-time. Employers will have to pay 55% of that, and the government will pay the rest. There will be similar support for the self-employed and companies will be given more time to repay government loans. The hospitality and tourism sector will pay VAT at a lower rate of 5% until the end of March 2021. Clive Myrie presents Ten at BBC News with political editor Laura Kuenssberg, economics editor Faisal Islam and business editor Simon Jack. Please subscribe HERE http://bit.ly/1rbfUog .

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