Furlough scheme to be extended until end of March 2021

The Furlough scheme will be extended until the end of March 2021, Chancellor Rishi Sunak has announced.  The scheme in which employees receive four-fifths of their current salary up to maximum of £2, 500 of hours not worked was originally scheduled to end last month, but was extended when Prime Minister Boris Johnson announced a new four-week lockdown in England last weekend.

Rishi Sunak confirmed  the payments would remain at 80 per cent of people’s wages with a review of the policy in January, which would “decide whether economic circumstances are improving enough to ask employers to contribute more” Mr Sunak said. The Chancellor also announced support for the self-employed with the next income support grant for November to January increasing to 80 per cent of average profits up to £ 7, 500.