UK Chancellor has extended the furlough Scheme (Coronavirus Job Retention Scheme) until the end of April 2021.
The government will continue to contribute 80% towards wages of employees’ salaries for hours not worked until the end of April.
Employers will only be required to pay wages, national insurance contributions (NICs) and pensions for hours worked, and NICs and pensions for hours not worked.
Mr Sunak also stated that he is extending COVID-19 business loan schemes until the end of March 2021. Now businesses adversely affected by the coronavirus (COVID-19) can access the following schemes until the end of March:
- Bounce Back Loan Scheme (BBLS)
- Coronavirus Business Interruption Loan Scheme (CBILS)
- Coronavirus Large Business Interruption Loan Scheme (CLBILS)
These schemes had been due to close at the end of January.
So far, the Coronavirus Job Retention Scheme (CJRS)/ furlough scheme has protected 9.6 million jobs across the UK. Almost more than one million businesses are accessing loans to help them through the crisis. says the government.
Additionally, the Chancellor confirmed that the government will deliver the Budget 2021 on 3 March. The upcoming budget will outline the next phase of the government’s plan to combat COVID-19 and protect jobs.
Commenting on the announcements, the Chancellor said:
‘Our package of support for businesses and workers continues to be one of the most generous and effective in the world – helping our economy recover and protecting livelihoods across the country.
‘We know the premium businesses place on certainty, so it is right that we enable them to plan ahead regardless of the path the virus takes, which is why we’re providing certainty and clarity by extending this support.’
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