Coronavirus: furlough job retention scheme extended until October

The job retention scheme will be extended, for four months, until the end of October.

The Chancellor has said ‘there will be no changes’ to the Coronavirus Job Retention Scheme until the end of July.

Speaking in the House of Commons he announced an extension of four months, he said: “By that point, we will have provided eight months of support to British people and businesses. Until the end of July, there will be no changes to the scheme whatsoever.”

He made it clear from August to October the scheme will continue, for all sectors and regions of the UK, but ‘with greater flexibility’ to support the transition back to work.

“Employers currently using the scheme will be able to bring furloughed employees back part-time,” he explained. “We will ask employers to start sharing, with the government, the costs of paying people’s salaries." 

Further detail will follow by the end of May. He added: “I want to assure people one thing won’t change, workers will, through the combined efforts of government and employers, continue to receive the same level of support as they do now, at 80% of their salary, up to £2,500.”

He made it clear that the 'expensive but necessary' furlough scheme 'will end' in October. So far 7.5million jobs have been fuloughed and it is currently costing £8bn a month.