Furlough scheme extended until the end of March, Chancellor Rishi Sunak has announced.
“To give people across the UK certainty over the winter, I can announce today that the furlough scheme will not be extended for one month – it will be extended until the end of March,” he said.
Employees will receive 80 per cent of their usual salary for hours not worked, up to £2,500 a month.
To give people across the UK certainty over the winter, I can announce today that the furlough scheme will not be extended for one month – it will be extended until the end of March.
Employees will receive 80% of their usual salary for hours not worked, up to £2,500 a month. pic.twitter.com/WtTqOcR61a
— Rishi Sunak (@RishiSunak) November 5, 2020
The Chancellor also announced increased “support for millions more workers through the Self-Employment Income Support Scheme. The third grant covering November to January will now be calculated at 80 per cent of average trading profits, up to a maximum of £7,500.
“Our highest priority remains the same: to protect jobs and livelihoods,” added Sunak.
The furlough scheme was originally intended to end in October, but was extended after PM Borish Johnson imposed a month-long lockdown in England last weekend.
Sunak told MPs in the House of Commons today, Thursday, November 5, there will be a review of the policy in January to determine “whether economic circumstances are improving enough to ask employers to contribute more”.
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