UK to use furlough funds to back firms hit by no-deal Brexit – report

The British government is expected to use the Coronavirus Job Retention Scheme to back domestic businesses affected by no-deal Brexit, the Telegraph reported citing people familiar with the matter.

The United Kingdom aims to provide support until the end of March to many firms that will face tariffs on products and goods shipped to the European Union if the country exits the bloc without sealing the trade deal.

According to the report, some sectors including farmers, fishermen, car manufacturers and chemical suppliers may receive the government’s support funds that are expected to total between £8 billion and £10 billion.



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