Furlough extended until the end of April 2021
Rishi Sunak has extended the furlough scheme for one month until the end of April 2021.
The extension, he said, would provide “certainty for millions of jobs and businesses.”
It means the government will continue to pay 80% of the wages of workers who have been furloughed.
Sunak also confirmed the government-guaranteed Covid-19 business loan schemes will also be extended until the end of March 2021.
The chancellor also confirmed the next Budget would take place on 3 March 2021.
“Our package of support for businesses and workers continues to be one of the most generous and effective in the world – helping our economy to recover and protecting livelihoods across the country,” Mr Sunak said.
“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.”
No changes to criteria
The government will continue to pay 80% of the salary of employees for hours not worked until the end of April.
Employers are only required to pay the wages, NI contributions and pensions for hours worked, as well as NI contributions and pensions for hours not worked.
The UK-wide furlough scheme remains the same – the eligibility criteria remain unchanged.
Businesses will also have until the end of March to access the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme, and the Coronavirus Large Business Interruption Loan Scheme.
These had been due to close at the end of January.
FOLLOW US ON SOCIAL MEDIA AND SHARE WTX NEWS WITH YOUR FRIENDS AND FAMILY:
Facebook – Please like our page
Twitter – Twitter updates available in English and Arabic. Please follow us and we would love to hear from you
Instagram – Follow our pages in English and ArabicLeave a comment