Rishi Sunak has today announced that the Coronavirus Job Retention Scheme (“Furlough Scheme) will be extended for four months, until the end of October 2020.
It will continue in its current form until the end of July 2020.
Then, between 1 August and 31 October 2020, the Government will ask employers to “start sharing” the costs. Greater flexibility will be introduced into the Furlough Scheme to allow employees to be brought back part-time, with the Government and the employer sharing the costs to ensure that employees continue to receive 80% of their monthly salary up to £2,500.
Full details are to be published by the end of May.