Chancellor Issues Statement on Job Retention Scheme

Chancellor Issues Statement on Job Retention Scheme

Chancellor Rishi Sunak, today issued a statement regarding the Job Retention Scheme, COVID-19 and Business.

Please see the key points of the Chancellor’s statement below:

• The Government’s plan is one of the most comprehensive in the world
• The Job Retention scheme has been a world-leading economic intervention
• 7.5m jobs have been furloughed, jobs that could have been lost had the government not acted. Nearly 1m businesses supported
• As the government reopens the economy they will need to support people back to work
• Sunak announced the scheme will be extended for four months until the end of October.
• Until the end of July, there will be no changes, then from August to October, it will continue for all sectors and regions but for greater flexibility to support the transition back to work
• Employers will be able to bring furloughed employees back part-time and the government will ask employers to start sharing the cost of paying peoples salaries
• Full details will follow by the end of May, but the Chancellor stated that workers will continue to receive the same level of overall support as they do now, at 80percent of their current salary up to £2.5k per month

Chancellor Sunak added, “We stood behind Britain’s workers and businesses as we came into the crisis, and we will stand behind them as we come through the other side”

To find out how you can claim Job Retention Scheme support, please click on link below: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme