imageEconomic Indicators15 hours ago (May 29, 2020 02:35AM ET)

(C) Reuters. Britain’s Secretary of State for Environment George Eustice gives daily address to nation on coronavirus in London

LONDON (Reuters) – Britain cannot run its COVID-19 jobs protection scheme indefinitely and needs to start tapering it down as people slowly return to work, environment minister George Eustice said on Friday.

“The furlough scheme has been incredibly important in terms of keeping people on standby and ready to return to work,” he told Sky News. “Clearly as we start to emerge from the lockdown and start to get our economy back to work, we can’t keep people on that furlough scheme indefinitely.”

“We need to start identifying ways of moving them off the furlough scheme and back into work… We need a furlough scheme that can be tapered down as people return to work.”

Britain needs to start tapering its COVID furlough scheme: minister

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.