Dame Carolyn Fairbairn, CBI Director-General has praised the government for extending the furlough scheme to help businesses deal with the economic fall-out from the COVID-19 crisis.
Dame Fairbairn said: “The Chancellor is confronting a challenging balancing act deftly. As economic activity slowly speeds up, it’s essential that support schemes adapt in parallel.
“Extending the furlough to avoid a June cliff-edge continues the significant efforts made already and will protect millions of jobs.
“Introducing much needed flexibility is extremely welcome. It will prepare the ground for firms that are reawakening, while helping those who remain in hibernation. That’s essential as the UK economy revives step-by-step, while supporting livelihoods,” she added.
“Firms will, of course, want more detail on how they will contribute to the scheme in the future and will work with Government to get this right.
“Above all, the path of the virus is unpredictable, and much change still lies ahead. The Government must continue to keep a watchful eye on those industries and employees that remain at risk. All schemes will need to be kept under review to help minimise impacts on people’s livelihoods and keep businesses thriving.
“The greater the number of good businesses saved now, the easier it will be for the economy to recover,” she concluded.
