Sunak accepts high UK unemployment in shift to revamp economy

U.K. Chancellor Rishi Sunak’s latest salvo against the economic chaos of the Covid-19 coronavirus marks a shift in tactics that risks making a painful spike in unemployment inevitable.

LONDON: U.K. Chancellor Rishi Sunak’s latest salvo against the economic chaos of the Covid-19 coronavirus marks a shift in tactics that risks making a painful spike in unemployment inevitable.

Gone is the furlough programme that may have saved millions of jobs in the early days of the pandemic yet which proved too expensive to last. In its place is a plan to subsidize wages for the next six months.