COVID-19: Chancellor extends furlough scheme to end of October
Updated: 4 days ago
The Chancellor Rishi Sunak announces that the government's job retention scheme will be extended from June until the end of October.
Employees to continue to receive 80% of wages, up to £2,500 per month.
He says 7.5 million jobs have now been furloughed in the UK.
Mr Sunak previously warned the furlough scheme, due to end in June, was not "sustainable" at its current rate.
Rishi Sunak said the scheme would become more flexible from the start of August, allowing employees to bring furloughed employees back part-time. A part time furlough of some sort.
Workers will continue to receive the same level of support at 80pc of their current salary up to £2,500 a month, he confirmed. However, he said employers will need to share the burden of paying salaries with the Government, implying that some of this will be paid by businesses. Further details will be published by the end of May.
This is a welcomed development. And we continue to monitor developments surrounding COVID-19.