Eight in 10 UK companies interested in furlough scheme - ONS

Around eight out of every 10 British companies are interested in the government’s furlough scheme that would pay 80% of the wages of staff who are temporarily laid off.

According to a survey published by the Office for National Statistics, around 70% of companies expressed interest in another part of the government’s coronavirus emergency plan.

The survey, which canvassed 6,000 companies between March 23 and April 5, also revealed that 82% of firms in the arts, entertainment and recreation sector had paused trading, compared with around 25% for companies across the economy as a whole.

Almost two-thirds of businesses that were continuing to trade said their turnover was lower than normal.

The coronavirus crisis was affecting the entire global economy and sent the UK into a deep recession, raising concerns over the future of the country’s labour market and businesses.

Most sector have been heavily affected by the forced lockdowns during the months of March and April and have had no choice but to issue staff layoffs.