Four-month extension to the Coronavirus Job Retention Scheme
The Chancellor has announced a four-month extension to the Coronavirus Job Retention Scheme to help provide certainty to businesses. To date, 7.5 million jobs have been furloughed.
Until the end of July, there will be no changes to the scheme. Then 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 employees back part time.
And, as the economy reopens, companies will be asked to start sharing, with government, the cost of paying people’s salaries. The same level of support of 80% of people’s current salary, up to £2,500, will continue to be met, but through a shared effort between employers and government.Related articles: