The Governor of the Bank of England is calling for a review the furlough scheme, amid new coronavirus measures that could be in place for six months.
Boss Andrew Bailey said the government must “stop and rethink” the job retentions scheme, which is due to close on October 31.
Speaking on a webinar hosted by the British Chambers of Commerce, Bailey echoed Sir Keir Starmer’s calls for more targeted support.
“We have moved from a world of generalised employment protections, to specific and focussed areas,” he said.
An estimated 3million workers are still on furlough but the Governor said that higher use of the scheme in sectors such as hospitality, retail and culture most affected by social distancing meant it was sensible to “stop and rethink”.
“Furlough has been successful and I congratulate the chancellor,” Bailey said.
“It would be completely inappropriate of me to do anything to tie the