- Published: Thursday, 14 May 2020 06:42
- Written by News Editor
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The Government’s Coronavirus Job Retention Scheme will remain open until the end of October, the Chancellor of the Exchequer has announced. Furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500. New ‘flexibility’ will be introduced from August to get employees back to work and boost the economy, he said.
Chancellor Rishi Sunak told the House of Commons that the furlough scheme would be extended by a further four months with workers continuing to receive 80% of their current salary. From the start of August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff. The employer payments will substitute the contribution the government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month.
Chancellor Rishi Sunak said: “Our Coronavirus Job Retention Scheme has protected millions of jobs and businesses across the UK during the outbreak – and I’ve been clear that I want to avoid a cliff edge and get people back to work in a measured way. This extension and the changes we are making to the scheme will give flexibility to businesses while protecting the livelihoods of the British people and our future economic prospects.”
The government will explore ways through which furloughed workers who wish to do additional training or learn new skills are supported during this period. It will also continue to work closely with the Devolved Administrations to ensure the scheme supports people across the Union.
The government has also published new statistics that show businesses have benefitted from over £14 billion in loans and guarantees to support their cashflow during the crisis. This includes 268,000 Bounce Back Loans worth £8.3 billion, 36,000 loans worth over £6 billion through the Coronavirus Business Interruption Loan Scheme, and £359 million through the Coronavirus Large Business Interruption Loan Scheme.
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