The Chancellor. Rishi Sunak, has confirmed the UK furlough scheme will be extended until the end of October. But there will be a gradual cut to taxpayer contribution to the scheme meaning the employers would need to share in footing the bill.
Some key points from the announcement today:
- The scheme would continue in its present form until the end of July but would be amended between August and the end of October to “provide greater flexibility to support the transition back to work”.
- Between August and October he would for the first time allow payments to furloughed staff working part-time.
- He also mentioned that from August he would ask employers to share the cost with the taxpayer of the job retention scheme, although employees would continue to receive the same 80 per cent of their salary.
More details would be announced by the end of the month but his allies confirmed that the taxpayer would continue to pay the “bulk” of the costs of the scheme.
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