Saturday, April 13, 2024
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Furlough scheme extended

The UK Furlough Scheme has been extended until March 2021 as the second lockdown begins.  Chancellor Rishi Sunak said: “The Government will continue to help pay people’s wages up to 80% of the normal amount. All employers will have to pay for hours not worked is the cost of employer NICs and pension contributions.

“We will review the policy in January to decide whether economic circumstances are improving enough to ask employers to contribute more.”

The Chancellor’s statement came after the Bank of England announced a new £150bn economic stimulus package.

 

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