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Bank of England chief economist warns AGAINST furlough extension
The Bank of England’s chief economist is warning against an extension of the government’s furlough scheme despite pleas from the travel sector for more support to prevent thousands of job losses over the winter. Andy Haldane told City A.M. that such a move would prevent ‘a necessary process of adjustment’ taking place, adding that ‘keeping all those jobs on life support is in some ways prolonging the inevitable’. The government’s Coronavirus Job Retention Scheme is due to end on 31 October.
At the same time, a chief accountant is warning firms – and the self-employed – to check that they didn’t commit ‘furlough fraud’ as they rushed to submit claims at the start of the pandemic. Dawn Register, Head of Tax Dispputes at BDO says HMRC is now investigating incorrect and fraudulent claims. Read more.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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