Chancellor says jobs will be meeting 20% of wage bill for 8.4 m proletarians by October

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Rishi Sunak has confirmed the Treasury is to gradually withdraw its job retention scheme over the next five months, with business satisfying 20% of the wage bill for their furloughed personnel by October.

Taxpayers ought to have gratify the wage bill for 8.4 million employees, at a cost of about PS14bn a month, since March. The strategy was aimed at preventing mass layoffs, as lockdown rules caused large areas of the economy to shut down.

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