Furlough is ending – will unemployment spike?

The UK's Covid furlough scheme has drawn to a close. Saloni Sardana looks at how it might affect the economy.

Barmaid pouring a pint
The hospitality industry was among the hardest hit by Covid-19 lockdowns
(Image credit: © Dinendra Haria/SOPA Images/LightRocket via Getty Images)

Around one million Britons are expected to feel the pinch on their finances as the government’s furlough package came to an end yesterday.

The scheme – also known as the coronavirus job retention scheme – was unveiled on 20 March last year after Covid-19 ravaged many parts of the UK economy.

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Saloni Sardana

Saloni is a web writer for MoneyWeek focusing on personal finance and global financial markets. Her work has appeared in FTAdviser (part of the Financial Times),  Business Insider and City A.M, among other publications. She holds a masters in international journalism from City, University of London.

Follow her on Twitter at @sardana_saloni