Up to seven million private sector workers could have their wages paid by the state as firms flock to sign up to the Government’s coronavirus furlough scheme.
More than 60% of companies have already said they plan to take advantage of it – with over 40% aiming to furlough at least half their workforce.
British Airways, mega-wealthy Sir Philip Green’s Arcadia high street empire and car maker Nissan have become the latest big employers to announce they would use the scheme.
Staff are “relieved” but the Government must still do more, unions say.
The mass take-up should avoid large scale job losses.
But it threatens to leave the Government with a gigantic bill.
The Treasury estimates it will cost £10billion for every three million people using the Coronavirus Job Retention Scheme for three months.