Commenting on the Chancellor’s announcement today (17 April) that the Coronavirus Job Retention Scheme will be extended by one month until the end of June, British Chambers of Commerce (BCC) director general Adam Marshall said:
“Businesses will be pleased that the Chancellor has responded to their calls for theJob Retention Scheme to be extended. This common sense move will provide many with the support they need to protect livelihoods as lockdown continues.
“With applications for the scheme opening on Monday, and April’s payday fast approaching, it is essential that payments are made as soon as possible. Any delay would exacerbate the cash crisis many firms are facing and could threaten jobs and businesses.”
The scheme, which allows firms to furlough employees with the government paying cash grants of 80% of their wages up to a maximum of £2,500, was originally open for three months and backdated from the 1 March to the end of May.
However, the Chancellor said he would keep the scheme under review and extend it if necessary.
Chancellor of the Exchequer, Rishi Sunak, said:
- We’ve taken unprecedented action to support jobs and businesses through this period of uncertainty, including the UK-wide Job Retention Scheme. With the extension of the coronavirus lockdown measures yesterday, it is the right decision to extend the furlough scheme for a month to the end of June to provide clarity.
- It is vital for people’s livelihoods that the UK economy gets up and running again when it is safe to do so, and I will continue to review the scheme so it is supporting our recovery.
https://www.gov.uk/government/news/chancellor-extends-furlough-scheme-to-end-of-june