UK Chancellor Sunak extended the furlough scheme till the end of September as he vowed to protect "the jobs and livelihoods of the British people".
"We will continue doing whatever it takes to support the British people and businesses through this moment of crisis," Sunak said in his budget speech Wednesday. The Coronavirus Job Retention Scheme, or the furlough scheme, began last year to save jobs during the crisis triggered by the coronavirus pandemic. Sunak also said the Self-Employment Income Support Scheme will?continue with a fourth and a fifth grant.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.