UK Government announces furlough scheme will now end on 30th April
Mr Sunak stated on 17th December that the additional month would provide “certainty for millions of jobs and businesses”.
He said that the eligibility criteria for the UK-wide furlough scheme will remain unchanged and these changes will still apply to all devolved administrations.
The UK Government will pay 80% of the salary of employees for hours they have not worked until the end of April, up to a maximum of £2,500 per month. Employers will only be required to pay the wages, National Insurance (NI) contributions and pensions for hours their employees have worked, as well as NI contributions and pensions for hours not worked
The Chancellor also said that the Government-backed COVID-19 loan schemes including the Bounce Back Loan Scheme (BBLS), Coronavirus Business Interruption Loan Scheme (CBILS), will be extended from 31st January to 31st March.
“We know the premium businesses place on certainty, so it is right that we enable them to plan ahead regardless of the path the virus takes, which is why we're providing certainty and clarity by extending this support,”, said Mr Sunak.
These changes came on the same day the Chancellor confirmed that the date of the next Budget will be 3rd March 2021.
Last updated: 17th December 2020