COVID-19: job retention scheme extended

Chancellor Rishi Sunak has today announced that the Coronavirus Job Retention Scheme (furlough scheme) has been extended by 4 months to the end of October.

There will be no change in the current scheme until the end of July, in that the Government will pay 80% of furloughed employee wages up to a limit of £2,500 per month.

Mr Sunak has stated that, from the end of July, employers will be able to bring furloughed employees back on a part-time basis.

Also from the end of July, employers will be asked to share the cost of paying people’s salaries with the Government. So, the salaries will remain at the level of 80% up to a limit of £2,500 per month but the Government will not fund them in full.

Mr Sunak stated that further details will be available by the end of May.

Click here for the official Government update in full.