Four Month Extension of the Furlough Scheme
The Chancellor, Rishi Sunak, has announced that the Coronavirus Job Retention Scheme will be extended by 4 months until the end of October 2020.
He has stated that the Government would continue to support businesses coming out of lockdown. As far as we are aware, this will mean that employers will continue to be able to claim a grant for 80% of employees’ wages. However, businesses will be asked to start sharing the cost of the Scheme.
He has indicated that the Scheme will include ‘greater flexibility’ in the later months to support businesses with the transition of bringing employees back to work by allowing businesses to bring back furloughed employees on a part-time
Full details are due to be published by the end of May.