Budget date set

Sunak extends furlough lifeline until April

Rishi Sunak leaves Number 11

Rishi Sunak: generous

The furlough scheme has been extended until the end of April next year with the Government continuing to contribute 80% towards wages.

Rishi Sunak, the Chancellor, said it will give businesses and employees across the UK certainty into the New Year.

In a move to ensure firms can access the support they need through continuing economic disruption, Mr Sunak also confirmed he would be extending the Government-guaranteed Covid-19 business loan schemes until the end of March.

These changes come ahead of the Budget, which the Chancellor has confirmed will take place on 3 March.

This will deliver the next phase of the plan to tackle the virus and protect jobs, so the extensions to the business loan and furlough schemes enable businesses to plan with certainty and access support in the first few months of the New Year ahead of the further update on wider Covid-19 economic support.

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So far, the Coronavirus Job Retention Scheme (CJRS) scheme has protected 9.6 million jobs across the UK with more than one million businesses accessing loans to help them through the crisis.

Mr Sunak, 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 to 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, as well as implementing our Plan for Jobs.”

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