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Sunday, April 21, 2024

Job Losses Inevitable Without Treasury Action

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Thousands more jobs will be lost and businesses pushed over the brink across the UK in the coming weeks and months as the coronavirus infection rate worsens and the Treasury continues to ignore calls to extend the furlough scheme, the SNP has warned.

With the UK facing a rising number of coronavirus cases and potential further restrictions coming into place, the SNP has ramped up calls on the Chancellor to heed the warnings and extend the job retention scheme into 2021 as sectors face the prospect of yet another economic body blow.

Commenting, SNP Shadow Financial Secretary to the Treasury Stephen Flynn MP (pictured) said:

“The rising number of infections and the potential for further restrictions coming into place has raised the devastating threat of thousands of jobs being lost across the UK in the coming weeks and months.

“With the furlough scheme due to wind down completely next month – and as the UK records an increase in coronavirus cases – the very last thing the Treasury can afford to do is bury its head deeper in the sand.

“Analysis from the Scottish Government has already shown that extending the furlough scheme by eight months could save around 61,000 jobs in Scotland.

“Meanwhile, Ireland, France and Germany have already extended their furlough schemes and delivered investment to save jobs.

“The Prime Minister and Chancellor must match that action.

“We are in unprecedented times and the dangers of a second wave has increased the threat facing people’s livelihoods and businesses.

“We are at a critical junction in this pandemic.

“The Tory government should recognise the reality of the road ahead and act to prevent a wave of redundancies from which people and businesses will simply be unable to recover.”

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