Unwinding U.K. Furlough Scheme Now Makes Sense, Charlie Bean Says

The video discusses the furlough scheme, which served as a financial bridge during lockdowns, supporting businesses and workers. As restrictions lift, the economy is expected to recover, reducing the need for government wage subsidies. However, some unemployment is anticipated. The government plans to assist young workers and shift focus from lockdown support to economic recovery and job creation.

What was the primary purpose of the furlough scheme during the lockdown?

• To permanently increase wages

• To provide a bridge for businesses and households

• To reduce taxes

• To encourage international trade

Why does it not make sense for the government to continue subsidizing pay indefinitely?

• Because it leads to higher taxes

• Because it increases inflation

• Because the economy is expected to recover naturally

• Because it discourages foreign investment

What is a likely consequence of ending the furlough scheme?

• A decrease in consumer spending

• An increase in unemployment

• A rise in inflation

• A drop in stock market prices

What is the government's new focus after the lockdown period?

• Supporting the economy in the recovery phase

• Reducing public spending

• Encouraging imports

• Increasing taxes

Which group is the government particularly aiming to help find jobs?

• Senior citizens

• Retired individuals

• Young workers

• Foreign workers