Originally written by Timothy Adler on Small Business
Chancellor Rishi Sunak has confounded expectations by extending the Coronavirus Job Retention Scheme to October at the same 80 per cent support level.
There will be no changes to the job retention scheme until the end of July.
From August part-time working from furloughed employees will be allowed, with employers picking up a greater percentage of the tab. Mr Sunak said that further details will be announced later his month.
The chancellor said that the furlough scheme has helped 7.5m workers protect their jobs, with over 1m businesses being supported.
Mr Sunak said: “I’m extending this scheme because I want to help the people who need it.”
Shadow chancellor Annelise Dodds said that she’d been taken aback by press reports quoting officials saying that workers needed to be “weaned” off the job retention scheme.
Ms Dodds said: “We will look at these changes very carefully. I welcome the flexibility measures, but he needs to provide more information.”
The chancellor responded that nobody wants to be on the furlough scheme and that “it’s not their fault their business has been asked to close.”
The chancellor also announced that as of today, 267,000 Bounce Back Loans had been approved worth over £8bn, and that 35,000 Coronavirus Business Interruption Loans had been approved worth £6bn.
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Rishi Sunak extends job retention furlough scheme to October
via https://ift.tt/2Jn9P8X by Timothy Adler, Khareem Sudlow
