Rishi Sunak warns jobs plan will not stem UK’s rising unemployment

Chancellor says Britain faces winter of business failures and job losses due to Covid impact

• Key points from Rishi Sunak’s winter economy plan – at a glance
• What is Rishi Sunak’s job support scheme and how will it work?
• Analysis: Sunak tries to stop job losses hitting postwar record

Rishi Sunak has warned that Britain faces a winter of rising unemployment as he said a new multibillion-pound spending package to boost an economy battered by Covid-19 would not be enough to prevent business failures and job losses over the coming months.

The chancellor said his winter jobs plan – a combination of wage top-ups, cash flow support for companies and an extended VAT cut for the hardest-hit sectors – was needed after tougher curbs to tackle the pandemic were announced earlier this week.

Continue reading…