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Bank of England sees five million people on furlough scheme - Broadbent

A general view shows The Bank of England and the City of London financial district, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain, November 5, 2020. REUTERS/John Sibley

LONDON (Reuters) - The Bank of England expects more than 5 million employees will be on the government’s extended furlough scheme in November, BoE Deputy Governor Ben Broadbent said on Friday.

“We think that there will again be many millions of employees placed on furlough ... in November, and over the following few months,” Broadbent said in a presentation organised by regional agents of the central bank.

“Probably not as many as in phase one because of the change in the nature and the duration of the lockdown. But we think probably in November, more than 5 million will be in. It was probably, we think, over 9 million in the spring.”

(This story corrects to show reference to 9 million people furloughed in the spring referred to spring this year, not next year)

Writing by William Schomberg, editing by Andy Bruce