UK needs biggest peacetime job creation plan to end mass unemployment | Business

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The largest package of job creation in peacetime is needed to prevent the worst unemployment crisis in Britain in a generation, warned a leading think-tank.Sounding the alarm as job losses increase, the Resolution Foundation called on the government to continue to subsidize the wages of workers in sectors of the economy most affected by the Covid-19 crisis until minus the end of next year.

He said the coronavirus job retention program – which supports the wages of more than 9 million workers at a taxpayer cost of more than £ 22 billion so far – should be turned into a job protection system that would be kept in place throughout 2021.

Under current plans, the program will close its doors to new entrants on Wednesday. Companies will be invited to contribute to the wages of workers on leave from August, regardless of whether they operate in sectors of the economy which remain closed in accordance with government rules, before its complete closure at the end of October.

The intervention came as the Labor Party, union bosses and business leaders are pressuring Chancellor Rishi Sunak to use his summer statement scheduled for next month to extend support to prevent a imminent job crisis to settle.

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