09:17
New analysis shows that businesses are at risk of closing down over the next three-months, with a million workers still working for them, as the government prepares to withdraw crucial Covid support schemes.
According to the LSEs Programme on Innovation and Diffusion, one in sixteen firms said they were at risk of closing in the next quarter.
It is a significant increase in confidence since January's worst pandemic, but there are also warnings that workers face increased risk due to the planned end to the furlough job scheme and a 20-per-week cut to universal credit.
Concerns are raised that certain industries are still being affected disproportionately by Covid's fallout. The furlough program is still used more frequently in the entertainment and travel sectors than in other industries. At the end June, the UK scheme paid out 1.9 million people. It is scheduled to end next month.
