Furlough scheme now covering 9.3 million workers

The number of workers now furloughed under the Coronavirus Job Retention Scheme (CJRS) has risen to 9.3 million, according to the latest figures from the Treasury.

A further 100,000 employees were furloughed in the week up to 28 June, with 1.1 million employers now using the CJRS.

The government has now paid out more than £25 billion to furloughed UK workers. It has also guaranteed £42.9 billion in loans through its business support schemes.

The majority has been borrowed via Bounce Back loans, with 967,000 businesses accessing £29.5 billion.

A further £11.1 billion has been borrowed through the Coronavirus Businesses Interruption Loan Scheme (CBILS), while £2.3 billion has been lent under the Coronavirus Large Business Interruption Loan Scheme (CLBILS).

Commenting on the figures, Stephen Pegge, Managing Director of Commercial Finance at UK Finance, said: 'The fact that over one million businesses are receiving support through the coronavirus loan schemes is a credit to bank staff up and down the country who have worked tirelessly to get finance to those who need it.

'Almost £43 billion has now been approved through these schemes, in addition to the industry's broad package of support for businesses, including overdraft extensions and capital repayment deferrals.'

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