Job Retention Scheme Extended
The Chancellor announced today (Tuesday 12 May 2020) that the Coronavirus Job Retention Scheme has been extended for all regions and sectors across the UK economy and will;
- continue until the end of October;
- furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500; and
- new flexibility will be introduced from August to get employees back to work and boost economy.
The scheme, in its current form, will continue until the end of July and then the changes which the Government are looking to implement should allow more flexibility for employers will come in from the beginning of August.
More information relating to the details of the scheme should be released by the end of May 2020.
The Government’s job retention scheme is presently supporting 7.5 million workers during the coronavirus pandemic which equates to about 1/4 of the UK workforce. The Chancellor in his announcement to MP’s said “I’m extending the scheme because I won’t give up on the people who rely on it.!”
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