The Chancellor has announced that the government will extend the Coronavirus Job Retention Scheme, allowing workers to be furloughed for a further four months through to the end of October 2020.
In the announcement by Rishi Sunak, we were informed that the current scheme will remain in place until the end of July. From August through to October there will be some changes to ‘phase’ employees back to work.
From August, furloughed workers will be able to return to work part-time with employers being asked ‘to start sharing the cost of salaries with the government’.
We expect further announcements by the end of the month, but a clear message has been given; workers will, from combined sources, continue to receive the same level of support as they do now, receiving 80% of their salary up to £2,500.
Statistics published this week show that there are 7.5 million workers taking advantage of the scheme, up from 6.3 million last week: this is a clear indicator of the support the scheme is providing to businesses throughout the UK.
If you have any questions on the recent announcements, or indeed on any aspect of the Coronavirus Job Retention Scheme, please do get in touch and speak with your usual contact at RG.