UK's Sunak extends furlough pay subsidies until end of March

Earlier on Thursday, the Bank of England said it was increasing the size of its government bond purchases by a further 150 billion pounds ($196 billion), helping the government to fund the surge in public spending. As well as the furlough extension, he increased support for self-employed people and raised guaranteed funding for the United Kingdom's devolved administrations by 2 billion pounds to 16 billion pounds.

British finance minister Rishi Sunak on Thursday extended the coronavirus furlough scheme, which provides 80% of the pay of temporarily laid-off workers, until the end of March and would provide billions of pounds of other support for the economy.

"To give people across the UK certainty over the winter, I can announce today that the furlough scheme will not be extended for one month – it will be extended until the end of March," Sunak told parliament. Earlier on Thursday, the Bank of England said it was increasing the size of its government bond purchases by a further 150 billion pounds ($196 billion), helping the government to fund the surge in public spending.

As well as the furlough extension, he increased support for self-employed people and raised guaranteed funding for the United Kingdom's devolved administrations by 2 billion pounds to 16 billion pounds. Sunak said he would review the furlough policy in January.