Over 140,000 firms apply for furlough cash

Over 140,000 businesses have applied for the Government’s job retention scheme since it was launched on Monday morning, according to Chancellor Rishi Sunak.

Speaking at the Government’s daily press briefing on Monday, Sunak said the scheme would pay 80% of the wages of more than one million people

“As of 4pm, over 140,000 firms have applied and the grants they will receive will help pay the wages of more than a million people.

“A million people who, if they hadn’t been furloughed, would have been at risk of losing their job,” said Sunak.

He added: “Firms applying today should receive their cash in six working days. HMRC will continue to provide updates on the number of people furloughed.”

Sunak added that he didn’t know the cost of the scheme, as he expected more firms to apply for the cash over the coming days.