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Furlough scheme extended until OCTOBER but Rishi Sunak unveils major changes | Personal Finance | Finance

Trade News by Trade News
May 12, 2020
in Personal Finance
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Furlough scheme extended until OCTOBER but Rishi Sunak unveils major changes | Personal Finance | Finance
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Chancellor of the Exchequer Rishi Sunak addressed MPs in the House of Commons today, announcing he was extending the Coronavirus Job Retention Scheme until October. During his announcement, he said that there would be no changes to the scheme until the end of July.

Mr Sunak said that among the changes were employers being able to bring back furloughed employees part-time, as well as employers being asked to begin sharing the cost of paying salaries.

However, the Chancellor insisted that furloughed workers would continue to receive the same level of overall support – 80 percent of their current salary up to £2,500 per month.

He said: “Employers currently using the scheme will be able to bring furloughed employees back part-time, and we will ask employers to start sharing with the government the cost of paying people salaries.

“Full details will follow by the end of May, but I want to assure people today, of one thing that won’t change.

DON’T MISS

“Workers will, through the combined…



Source Google News

Tags: extendedfinancefurloughmajorOctoberpersonalRishischemeSunakunveils
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