Nearly half of Britain's biggest companies think it will take until the second half of 2021 before business recovers from the coronavirus pandemic, according to a survey on Monday that cast doubt on hopes for a speedier rebound.
LONDON - Nearly half of Britain’s biggest companies think it will take until the second half of 2021 before business recovers from the coronavirus pandemic, according to a survey on Monday that cast doubt on hopes for a speedier rebound.
Another 33% predicted a recovery in the first half of 2021 and 10% said business had already bounced back. “Major corporates are expecting a long haul back to pre-COVID levels of revenue,” said Ian Stewart, Deloitte’s chief economist.Separately, manufacturing trade body Make UK on Monday called for the government to extend its job furlough scheme, due to expire at the end of October, by six months for key industrial sectors.
“Therefore, if we are to mitigate the worst impact of potential job losses Government must extend the furlough scheme for key strategic sectors to provide them with vital breathing space.”
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