Chancellor Rishi Sunak has announced today that the furlough scheme will be extended until the end of October 2020. The Job Retention Scheme is a Government initiative designed to support businesses who have suffered due to the coronavirus. For further information about the scheme and to check your eligibility click here.
Mr Sunak has commented on the extension;
*The job retention scheme will be extended, for four months, until the end of October.”
“By that point, we will have provided eight months of support to British people and businesses. Until the end of July, there will be no changes to the scheme whatsoever.
“From August to October the scheme will continue for all sectors and regions of the UK, but with greater flexibility to support the transition back to work.
“Employers currently using the scheme will be able to bring furloughed employees back part-time.”
“We will ask employers to start sharing, with the government, the costs of paying people’s salaries.”
“Further detail will follow by the end of May but I want to assure people one thing won’t change: workers will, through the combined efforts of government and employers, continue to receive the same level of support as they do now, at 80% of their salary, up to £2,500.”
It is reported that 7.5 million workers have been furloughed through this scheme this is a steep increase on last week’s figures of 6.3 million. Cost sharing is expected by August but no further detail is at the moment available.
For further advice on the furlough scheme please don’t hesitate to contact your HR Consultant on 01924 827869. If you are not a client but would like to discuss options for support and advice please call one of the team on 01924 827869 and we will do our best to help you.
References
*thecourier.co.uk/fp/news/uk-world/1318083/uk-chancellor-announces-extension-of-government-furlough-scheme-until-october/
bbc.co.uk/news/business-52634759
https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme
