Chancellor Rishi Sunak has confirmed the furlough scheme in the UK will be extended to March 2021.
Mr Sunak announced the news today (November 5) in the Commons, saying the scheme will pay up to 80% of a person’s wage up to £2,500 a month of hours not worked.
The scheme was scheduled to end last month but has been extended as a result of England’s second national lockdown which begins today. At current, more than £50 billion has been spent on the furlough scheme since it was introduced in March.
The policy will be reviewed in January.
“The furlough scheme was designed and delivered by the government of the United Kingdom on behalf of all the people of the United Kingdom, wherever they live,” Sunak said.
“That has been the case since March, it is the case now and will remain the case until next March.”
Mr Sunak also announced more support for self-employed people through the Self-Employment Income Support Scheme (SEISS). The third grant covering November to January will increase to 80% of average profits up to £7,500.