In a welcome decision, the Government has today (12th May 2020) announced that the Coronavirus Job Retention Scheme will be extended for four months, until the end of October 2020 for all sectors.
There will be no changes to the scheme until the end of July. This means furloughed employees and workers will continue to receive 80% of their monthly wages, up to a maximum of £2,500.
The changes announced today will take effect from August (currently ceasing in October 2020), during which time the scheme will continue on the basis that furloughed employees can be brought back part-time. This will give greater flexibility to support the transition back to work. The Government will be asking companies to 'start sharing' the cost of the scheme, and has stated that full details will be published by the end of May.
It is likely that businesses will very much welcome this extension of the scheme, and it will hopefully bring relief to employers and workers.
The UK scheme to pay wages of workers on leave because of coronavirus will be extended to October, Chancellor Rishi Sunak said.