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Coronavirus Job Retention Scheme Extension to end of October

Update 12 May 2020

In a week that has seen announcements from the Government as to how some of the lockdown measures are to be relaxed in order to gently get the economy moving again, today, the chancellor has announced further developments to the Coronavirus Job Retention Scheme.

He announced that 7.5 million jobs have been furloughed since the scheme was launched and one million businesses supported.

In order to re-open the economy and to support businesses in getting back to work the Coronavirus Job Retention Scheme will be extended by four months to the end of October.

This will account for eight months of support for British businesses. The support will continue as is (80% of salary up to £2500/month) until the end of July and then from August to October it will be possible to bring back furloughed employees part time, businesses will be asked to share the cost of salaries with the government.

Full details will be published at the end of May and we will keep you updated.

 

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