Furlough scheme extended until the end of March

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Furlough scheme extended until the end of March

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.

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Employees will receive 80 per cent of their usual salary for hours not worked, up to £2,500 a month.


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”.

Bank of England chiefs are expected to pump around £150 billion of extra money into the economy as England’s second lockdown starts today.


 

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