By Tara Rippin • Published: 05 Nov 2020 • 14:46
Furlough scheme extended until the end of March, Chancellor Rishi Sunak has announced.
“To give people across the UK certainty over the winter, I can announce today that the furlough scheme will not be extended for one month – it will be extended until the end of March,” he said.
Employees will receive 80 per cent of their usual salary for hours not worked, up to £2,500 a month.
To give people across the UK certainty over the winter, I can announce today that the furlough scheme will not be extended for one month – it will be extended until the end of March. Employees will receive 80% of their usual salary for hours not worked, up to £2,500 a month. pic.twitter.com/WtTqOcR61a — Rishi Sunak (@RishiSunak) November 5, 2020
To give people across the UK certainty over the winter, I can announce today that the furlough scheme will not be extended for one month – it will be extended until the end of March.
Employees will receive 80% of their usual salary for hours not worked, up to £2,500 a month. pic.twitter.com/WtTqOcR61a
— Rishi Sunak (@RishiSunak) November 5, 2020
The Chancellor also announced increased “support for millions more workers through the Self-Employment Income Support Scheme. The third grant covering November to January will now be calculated at 80 per cent of average trading profits, up to a maximum of £7,500.
“Our highest priority remains the same: to protect jobs and livelihoods,” added Sunak.
The furlough scheme was originally intended to end in October, but was extended after PM Borish Johnson imposed a month-long lockdown in England last weekend.
Sunak told MPs in the House of Commons today, Thursday, November 5, there will be a review of the policy in January to determine “whether economic circumstances are improving enough to ask employers to contribute more”.
Bank of England chiefs are expected to pump around £150 billion of extra money into the economy as England’s second lockdown starts today.
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Tara Rippin is a reporter for Spain’s largest English-speaking newspaper, Euro Weekly News, and is responsible for the Costa Blanca region. She has been in journalism for more than 20 years, having worked for local newspapers in the Midlands, UK, before relocating to Spain in 1990. Since arriving, the mother-of-one has made her home on the Costa Blanca, while spending 18 months at the EWN head office in Fuengirola on the Costa del Sol. She loves being part of a community that has a wonderful expat and Spanish mix, and strives to bring the latest and most relevant news to EWN’s loyal and valued readers.
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