A new report has revealed that 63 of the country’s wealthiest individuals, including at least 20 billionaires, applied to the government’s furlough scheme to pay the wages of their workers. Tara Pilkington brings you the top stats that you need to know.
Under the furlough scheme, staff are paid up to 80 per cent of their salary by the government, up to £2,500 each per month. A new report has revealed that five of Britain’s richest 10 people own companies that have furloughed workers through the scheme.
- Property moguls David and Simon Reuben, who are worth £16 billion, are ranked joint-second on the rich list with brothers Sri and Gopi Hinduja.
- The Reubens, who own commercial properties, developments and firms in central London and the north of England, has reported to have furloughed roughly 750 staff at their racecourses and pubs.
- The Hinduja brothers have furloughed part of their 360 employees at Optare, their North Yorkshire-based bus-making firm.
- Britain’s fifth-richest person, Sir Jim Ratcliffe (£12.15bn), has also been criticised after furloughing most of his staff.
- Mike Ashley, owner of Newcastle United and Sports Direct, also applied to the scheme. He has wealth of £1.95bn and is 75th on the list of richest people.
While the furlough scheme has provided a much-needed lifeline for small businesses, this calls into question who should be able to access funds through the scheme and whether business owners should contribute more of their own money to help see their employees through this period.