UK Chancellor Urged To Extend Furlough Scheme Before March Budget Over Redundancy Fears

UK Chancellor Urged To Extend Furlough Scheme Before March Budget Over Redundancy Fears.

The CBI (The Confederation of British Industry) said firms needed to know whether financial lifelines that have helped them survive through the coronavirus crisis will be available as they plan for the months ahead and made a plea to ministers to extend the furlough before March’s Budget.

The Chancellor was asked by the CBI  to extend the furlough so as to protect millions of jobs and businesses in line with current national lockdown restrictions. It also called on the Treasury to extend business rates holiday schemes to support those who are unable to trade. Britain’s furlough scheme – which covers 80% of wages – is currently due to run until the end of April.

CBI director-general Tony Danker said, quote: “business support must remain in parallel to restrictions”. “Many tough decisions for business owners on jobs, or even whether to carry on, will be made in the next few weeks. If the government plans to continue its support then I urge them to take action before the budget which is still more than six weeks away.”

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