UK finance minister, Rishi Sunak, reaffirms that the government cannot and will not extend the furlough program beyond October
- It is one of the most difficult decisions
- We still have the support in place but it is not fair to extend it indefinitely
- We should be helping people prepare for new opportunities
As mentioned before, the furlough program is masking a lot of the underlying damage and pain suffered by the UK economy over the last few months and we will only get a better idea of how things are once we get into the latter stages of Q3 and in Q4.
Once the labour market is forced to stand on its own two feet, that will provide a better indication of how robust the recovery in the domestic economy actually is.
