The Chancellor has extended the Coronavirus Job Retention Scheme for four months until the end of October after promising that there will be no “cliff-edge” end to the furlough scheme.The scheme will continue in its current form until the end of July and the changes to allow more flexibility will come in from the start of August. Rishi Sunak said the scheme would become more flexible from the start of August, allowing employers to bring furloughed employees back part-time. More specific details and information around its implementation will be made available by the end of this month.
Key details of today’s announcement:
• Coronavirus Job Retention Scheme will continue until end of October
• Furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500
• 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 government will explore ways through which furloughed workers who wish to do additional training or learn new skills are supported during this period
• Further details will be published by the end of May.
For more details please contact Stephen McConnell, Business Services Partner E mail email@example.com or Tel: 028 9032 3466.