Furlough scheme to be extended until the end of March 2021
The UK furlough scheme is being extended yet again – this time until March 2021.
The Chancellor Rishi Sunak confirmed the news on Thursday, stating: “To give people across the UK certainty over the winter, I can announce today that the furlough scheme will not be extended for one month – it will be extended until the end of March.
“Employees will receive 80% of their usual salary for hours not worked, up to £2,500 a month.”
Sunak also mentioned there would be additional funds made available for the self-employed.
He stated: “We’re increasing the support for millions more workers through the Self-Employment Income Support Scheme.
“The third grant covering November to January will now be calculated at 80% of average trading profits, up to a maximum of £7,500.”
Emphasising that the “Treasury was for the whole of the United Kingdom”, Sunak added: “The upfront guaranteed funding for the devolved administrations is increasing from £14bn to £16bn.”
Speaking in the House of Commons, the Chancellor said that the policy will be reviewed in January, in order to “decide whether economic circumstances are improving enough to ask employers to contribute more.”
Around £40 billion has been spent on the furlough scheme since it was introduced earlier this year, with 9.6 million people benefitting.