In his address to the House of Commons at lunchtime today, the Chancellor Rishi Sunak announced that the Government’s Coronavirus Job Retention Scheme will be extended until October.
The Chancellor confirmed that there will be no changes to the terms of the scheme until the end of July.
However, from August to October businesses will be able to bring furloughed employees back part-time. No further details were provided on this point but more information was promised by the end of May.
Crucially, Sunak confirmed that workers will continue to receive the same level of overall support; 80% of salary up to £2,500, but eluded to the fact that this cost will be shared with employers.
No comment was made on whether the Government would be reducing its contribution to the wage bill from August and we await further details on this as well.
For more information on today’s announcement and how this impacts your business do not hesitate to get in touch with our employment team.