Chancellor Rishi Sunak has extended the UK furlough scheme through to the end of September this year as the pandemic continues to disrupt the economy.
The new extension to the Coronavirus Job Retention Scheme (CJRS), applied to the whole of the UK, will cover 80% of wages for those not working due to the pandemic, it was announced in today's Spring Budget. However, Sunak detailed that employers will be expected to make a "small contribution of just 10%" towards payments to CJRS from July, rising to 20% in August and September as government support tapers off and focus shifts to reopening the economy. "For employees, there will be no change to the terms. They will continue to receive 80% of their salary for hours not worked until the...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
