Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Britain's Treasury gets 1 billion stg windfall from repaid furlough cash -FT

Published 06/16/2021, 11:29 PM
Updated 06/16/2021, 11:45 PM
© Reuters. FILE PHOTO: Pedestrians walk past the HM Revenue & Customs building in Whitehall, central London December 14, 2012. REUTERS/Suzanne Plunkett

© Reuters. FILE PHOTO: Pedestrians walk past the HM Revenue & Customs building in Whitehall, central London December 14, 2012. REUTERS/Suzanne Plunkett

(Reuters) - British companies have returned more than 1 billion pounds ($1.40 billion) of furlough cash as investors press managements to repay taxpayer funds taken during the COVID-19 pandemic before paying big bonuses, the Financial Times said on Thursday.

Companies have repaid 709 million pounds to HM Revenue & Customs that had been claimed under the government's coronavirus job retention scheme, the newspaper said, with a further 319 million returned as over claimed funds taken in error. 

© Reuters. FILE PHOTO: The HM Treasury name is seen painted on the outside of Britain's Treasury building in central London, Britain March 15, 2016.  REUTERS/Toby Melville

The paper https://on.ft.com/3pZKW7g cited data obtained through a freedom of information (FOI) request. The amount is still far less than the total of 64 billion pounds Treasury spent up to May 14 under the furlough scheme.

($1=0.7144 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.