The Chancellor has extended the Coronavirus Job Retention Scheme until the end of October, giving workers and businesses the certainty they need that the Government will continue to support them.
The Coronavirus Job Retention Scheme has already protected more than 7 million jobs across the UK which would otherwise have been at risk. As the Government moves into the second stage of its response to coronavirus, it is focused on not just saving lives, but also saving livelihoods.
The Government has extended the scheme until the end of October, to avoid a cliff edge and get people back to work in a measured way. Until the end of July, workers will continue to receive 80% of their current salary, up to £2,500 a month, from the Government. From the start of August, the scheme will be more flexible, and furloughed workers will be able to return to work part-time with employers being asked to contribute towards some of the costs of their salaries.
Commenting, James said:
“I welcome the extension of the Job Retention Scheme which I know has been a lifeline to many workers and businesses in Old Bexley and Sidcup during this difficult time. The extension and changes will give flexibility to businesses to gradually bring their employees back through the introduction of a part time furlough scheme, whilst protecting the livelihoods of the British people and our future economic prospects.”