More than , firms have applied for the government job retention scheme since it launched this morning, the chancellor has said.
Speaking at the daily Downing Street briefing, Rishi Sunak announced the grants to help cover the wages of more than one million people during the COVID – crisis.
Mr Sunak said: “HMRC opened the Coronavirus Job Retention Scheme at eight o’clock this morning.
“As of 4pm, over , firms have applied and the grants they will receive will help pay the wages of more than a million people.
“A million people who, if they hadn’t been furloughed, would have been at risk of losing their job.
“Firms applying today should receive their cash in six working days. HMRC will continue to provide updates on the number of people furloughed.”
Mr Sunak refused to be drawn on the cost of the furlough scheme or whether it would be extended again.
(% limit.
Mr Sunak said 24, 06 loans had been approved, but added: “I am not persuaded that moving to a % guarantee is the right thing to do.
“Some people have made some comparisons with what is going on in other countries. I think when you look at the totality of what we are doing it is more significant in scope and scale. “
GIPHY App Key not set. Please check settings