The Chancellor has today, Tuesday 12th May, confirmed that the Coronavirus Job Retention Scheme will be extended until October.
In a direct response to BRC's asks, this extension of four months will mean the Government will have provided eight months of support to British businesses. The Chancellor also noted that, to date, 7.5 million jobs have been furloughed and nearly one million businesses have been supported.
There will be no change to the scheme until the end of July.
From August until October, support will continue for all sectors and all regions of the UK but with greater flexibility to support the transition back to work.
From August, employers will have the flexibility to bring furloughed employees back part-time while still receiving the support and employers will be asked to start contributing some of the costs of their workers’ salaries, substituting part of the contribution that the government is currently making.
Employees will continue to receive the same level of overall support – 80% of their regular wages up to the monthly cap of £2,500.
Further details expected by the end of May.