Stark new figures released by the Institute for Public Policy Research (IPPR) reveal that up to 9 million jobs could be at risk this spring.
The new report states that up to 600,000 UK employers are at risk of collapse when existing support measures are due to end in May.
The IPPR is calling on Rishi Sunak, in the Budget, to extend existing support schemes, boost grant support, and offer cash injections to viable businesses.