Rishi Sunak announced today at the house of commons that the UKs furlough scheme is to now expire in March.
Sunak pictured giving a speech.
The furlough scheme has been in force for a while now, and the public was told that it was to end on the 31st of October, but, it has officially been extended until March, to help businesses stay afloat. The government pays 80% of a companies staff wages, up to £2500, to assist during these hard times. Many businesses and employees relied on the scheme heavily during the first lockdown, and now that we’re in our second in the UK, the government thought it was only right to extend it during these “uncertain” times for businesses.
Announcing the extension, Sunak said: “The furlough scheme will not be extended for one month, it will be extended until the end of March.”
It was originally meant to end in May, but the Government made it clear that extension was always an option.
Sunk hopes that the extension will “give businesses security through the winter”.
“The security we are providing will protect millions of jobs,” he said.
The announcement may also have taken some heat off the government, as recently, they have faced much criticism from MPs and public about what these measures are doing to businesses, and how they need much more support if they want to stay afloat in what has been described as a “dark winter” ahead.
