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MPs: Furlough “needs to be extended” to avoid massive unemployment.



MPs: Furlough "needs to be extended" to avoid massive unemployment.

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MPs said the UK government should consider a targeted extension of the leave.

The coronavirus crisis could lead to massive long-term unemployment and viable firms could go bankrupt without support, a Treasury special committee warned.

However, retaining the circuit entirely would not be good value for money, he added.

The Treasury said it would “continue to innovate to support income and employment.”

The coronavirus job retention scheme is due to end on October 31. Under it, workers on leave received 80% of their salary, up to £ 2,500 a month.

At first, the state paid for all this. But firms had to start contributing to wages in September, the scheme began to be phased out.

Prime Minister Boris Johnson said earlier that extending the vacation in October would only keep people “in suspended animation.”

Chancellor Rishi Sunak also ruled out the renewal, instead stating that firms will be provided with £ 1000 for each laid off employee was still working at the end of January.

But committee chairman Mel Stride said the chancellor “should carefully consider targeting expansion” of the scheme.

“The key point will be to help those enterprises that, with additional support, can survive the crisis as sustainable enterprises, rather than focus on those that, unfortunately, simply will not be viable in the changed post-crisis economy.”

Fee and skills

In a second report on its investigation into the economic impact of Covid-19, the committee also warned that the pandemic risks widening the gender pay gap due to the difference in hours of paid work in isolation – especially if the work schedule changes forever.

The MPs also said that people should be able to retrain and that small businesses should be able to fully participate in the government’s Quick Start program, which aims to create jobs for young people on a universal loan.

The trade organization of the Federation of Small Businesses (FSB) said that after the vacation scheme ends, “policymakers will need to carefully consider measures to contain mass unemployment, including the new scheme.”

FSB National Chairman Mike Cherry said: “The priority must be to protect viable small businesses – and all the jobs they provide – that have been disproportionately [hit] due to the coronavirus crisis, including those caught as a result of local isolation, given ongoing national restrictions, or personnel directly affected by Covid. “

The Resolution Foundation, which is campaigning to improve living standards, said that “expanding support for the hardest hit sectors of the economy will be essential to limit the rise in unemployment that Britain will face in the coming months.”

Thorsten Bell, chief executive officer of the think tank, said: “This authoritative report on the economic impact of the coronavirus should be a must-read for Treasury officials planning the fall budget, amid a highly uncertain backdrop of rising coronavirus cases.

“The Chancellor will need to rethink his plans to end support quickly, given the painful reality that the economic crisis will last.”

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Media headlineJulie changed jobs before isolation, and then became unemployed and was not entitled to be fired.

Leading business groups warned this week that the UK risks a second wave of job cuts and a slower economic recovery if it does not extend the vacation scheme.

Germany, Belgium, Australia and France have decided to extend or launch new payroll support schemes next year.

A Treasury spokesman said it would help pay 9.6 million jobs by the time the UK scheme closes.

“We will continue to innovate to support income and employment,” said the spokesman.

“We help employees get back to work where they want to be with a £ 1,000 retention bonus.

“And we are creating new roles for young people through our Kickstart scheme, creating incentives for training and internships, and supporting and protecting tourism and hospitality jobs through our VAT cut and Eat Out to Help Out program last month.”

The unemployment rate in the UK is 3.9% since the quarantine was introduced.

But the Bank of England expects that rate to double to 7.5% by the end of the year, when government-funded support programs end.

Firms such as Rolls-Royce, Costa Coffee, Pret A Manger, Pizza Express, British Airways and BP have already announced thousands of job cuts.

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The dollar continues to reflect the political scenario



The dollar continues to reflect the political scenario

Yesterday, financial agents evaluated the opposite decision of the Federal Supreme Court (STF) regarding the so-called secret budget. In addition, a decision was made by STF Minister Gilmar Méndez to issue an injunction that would exclude the Bolsa Família from the spending cap rule, with investors trying to understand how this measure would affect the processing of the transitional PEC in the Chamber of Deputies. Oh this PEC!!!!

Since he is an exchange investor, any reading that the budget will be exceeded or become more flexible will negatively affect the exchange market, whether through the PEC or in any other way. We will continue with volatility today.

Looking beyond, the US Central Bank (Fed), although slowing down the pace of monetary tightening at its December meeting, issued a tougher-than-expected statement warning that its fight against inflation was not yet over, raising fears that rising US interest rates will push the world’s largest economy into recession.

The currency market continues to react to political news. The voting on the PEC is saved for today. It is expected that it will indeed be reviewed to open the way tomorrow for discussions on the 2023 budget.

Yesterday, the spot price closed the selling day at R$5.3103.

For today on the calendar we will have an index of consumer confidence in the eurozone. Good luck and good luck in business!!

See also  Central newspaper
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Andrés Sánchez consults with the Ministry of Sports, but refuses a political post.



The former president of the Corinthians dreams of working for the CBF as a national team coordinator. He was consulted shortly after Lula’s election.

Former Corinthians president Andrés Sánchez was advised to take a position in the Ministry of Sports under the administration of Lula (PT). However, he ruled out a return to politics. dreams of taking over the coordination of CBF selectionHow do you know PURPOSE.

No formal invitation was made to the former Corinthian representative, only a consultation on a portfolio opportunity with the new federal government, which will be sworn in on January 1, 2023.

Andrés was the Federal MP for São Paulo from 2015 to 2019. At that time he was elected by the Workers’ Party. However, the football manager begs to stay in the sport, ruling out the possibility of getting involved in politics again.

Andrés Sanchez’s desire is to fill the position of CBF tackle coordinator, which should become vacant after the 2022 World Cup. Juninho Paulista fulfills this function in Brazil’s top football institution.

The former president of Corinthians was in Qatar to follow the World Cup along with other figures in Brazilian football. During his time in the country, he strengthened his ties with the top leadership of the CBF.

See also  Central newspaper
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The EU has reached a political agreement on limiting gas prices – 19.12.2022



Germany sentenced Russian to life imprisonment for political murder by order of Moscow - 12/15/2021
BRUSSELS, DECEMBER 19 (ANSA). European Union countries reached a political agreement on Monday (19) to impose a natural gas price ceiling of 180 euros per megawatt hour (MWh). The main sources of income for Russia and the minimization of the use of energy as a weapon by the regime of Vladimir Putin.

The agreement was approved by a supermajority at a ministerial meeting of member states in Brussels, Belgium, after months of discussions about the best way to contain the rise in natural gas prices in the bloc caused by Russia’s invasion of Ukraine. .

The value set by the countries is well below the proposal made by the European Commission, the EU’s executive body, in November: 275 EUR/MWh. However, the countries leading the cap campaign were in favor of an even lower limit, around 100 EUR/MWh.

Germany, always wary of price controls, voted in favor of 180 euros, while Austria and the Netherlands, also skeptical of the cap, abstained. Hungary, the most pro-Russian country in the EU, voted against.

The instrument will enter into force on 15 February, but only if natural gas prices on the Amsterdam Stock Exchange exceed 180 euros/MWh for three consecutive days. In addition, the difference compared to a number of global benchmarks should be more than 35 euros.

Italy, the EU’s biggest supporter of the ceiling, has claimed responsibility for the measure. “This is a victory for Italy, which believed and worked for us to reach this agreement,” Environment and Energy Minister Gilberto Picetto tweeted.

“This is a victory for Italian and European citizens who demand energy security,” he added.

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Currently, the gas price in Amsterdam is around 110 EUR/MWh, which is already a reflection of the agreement in Brussels – in August the figure even broke the barrier of 340 EUR/MWh.

However, Russia has already threatened to stop exports to countries that adhere to the ceiling. (ANSA).

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