Summary
The third phase of the UK's Covid-19 Inquiry is examining the financial measures taken to support workers and businesses during the pandemic. This includes the furlough scheme, business loans, and how well these initiatives were designed and executed. The inquiry aims to learn from these actions to better handle future pandemics.
Key Facts
- The inquiry focuses on financial support provided during the Covid-19 pandemic.
- The UK government and regional administrations spent £140 billion to support businesses and workers.
- The furlough scheme supported 11.7 million jobs, costing £70 billion.
- Self-employed individuals and businesses received additional support through various schemes.
- The inquiry will look into safeguards against fraud and whether support delayed labor market adjustments.
- Public services and community sectors also received additional funding during the lockdowns.
- Notable figures expected to testify include former officials and experts in economic policy.
- The inquiry seeks to extract lessons for managing future pandemics.
