Chancellor expands furlough scheme for businesses

Starts beginning of November

Adam Saville
clock • 3 min read

Chancellor Rishi Sunak has today (22 October) announced a new support package for businesses to replace the furlough scheme from the start of November.

It will reduce the level of employer contribution to 5% of a workers' salary - down from the previous level of 33%. The new measures, outlined just 10 days before the job support scheme (JSS) was due to come into effect, will also cut the number of hours an employee must work before a company can receive support, reducing it to 20% from 33%. Mr Sunak said that if someone was being paid £587 of their unworked hours, the government would be contributing £543 towards that amount - leaving £45 for an employer to pay. Under the previous JSS plans announced last month, employees would ha...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advice firms report that around four in ten clients are vulnerable - MorganAsh

Advice firms report that around four in ten clients are vulnerable - MorganAsh

Data from the MorganAsh Resilience System

Jaskeet Briah
clock 28 May 2026 • 2 min read
Student loans present 'almost impossible' financial planning question

Student loans present 'almost impossible' financial planning question

To be a 'burden' for years to come, advisers say

Sophia Panayi
clock 28 May 2026 • 5 min read
Advice consolidation: Reputation, regulation and a transforming market

Advice consolidation: Reputation, regulation and a transforming market

Growth alone is no longer enough

Isabel Baxter
clock 27 May 2026 • 5 min read