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

Will advisers have to reposition annual reviews as a premium service to justify their fees?

Will advisers have to reposition annual reviews as a premium service to justify their fees?

'Advisers must be honest about which parts of the client book remain sustainable'

Mark Glover
clock 06 July 2026 • 5 min read
MKC Invest backs robotics as physical AI takes off

MKC Invest backs robotics as physical AI takes off

Conducts four-week internal research project

Sophia Panayi
clock 03 July 2026 • 2 min read
Feel Good Friday: Free paraplanning mentoring initiative expands

Feel Good Friday: Free paraplanning mentoring initiative expands

The Paraplanner Club partners with Fundment

Professional Adviser
clock 03 July 2026 • 1 min read