The number of workers now furloughed under the Coronavirus Job Retention Scheme (CJRS) has risen to 9.3 million, according to the latest figures from the Treasury.
A further 100,000 employees were furloughed in the week up to 28 June, with 1.1 million employers now using the CJRS.
The government has now paid out more than £25 billion to furloughed UK workers. It has also guaranteed £42.9 billion in loans through its business support schemes.
The majority has been borrowed via Bounce Back loans, with 967,000 businesses accessing £29.5 billion.
A further £11.1 billion has been borrowed through the Coronavirus Businesses Interruption Loan Scheme (CBILS), while £2.3 billion has been lent under the Coronavirus Large Business Interruption Loan Scheme (CLBILS).
Commenting on the figures, Stephen Pegge, Managing Director of Commercial Finance at UK Finance, said: ‘The fact that over one million businesses are receiving support through the coronavirus loan schemes is a credit to bank staff up and down the country who have worked tirelessly to get finance to those who need it.
‘Almost £43 billion has now been approved through these schemes, in addition to the industry’s broad package of support for businesses, including overdraft extensions and capital repayment deferrals.’