Covid 19: Furlough scheme extended to March 2021 and Self-Employment Income Support Scheme boosted
The Government has confirmed that it will extending the furlough scheme for five months.
The Coronavirus Job Retention Scheme (CJRS) will now run until the end of March with employees receiving 80% of their current salary for hours not worked.
Support for workers through the Self-Employment Income Support Scheme (SEISS) will be increased, with the third grant covering November to January calculated at 80% of average trading profits, up to a maximum of £7,500.
The Chancellor of the Exchequer Rishi Sunak said:
"I’ve always said I would do whatever it takes to protect jobs and livelihoods across the UK - and that has meant adapting our support as the path of the virus has changed.
It’s clear the economic effects are much longer lasting for businesses than the duration of any restrictions, which is why we have decided to go further with our support.
Extending furlough and increasing our support for the self-employed will protect millions of jobs and give people and businesses the certainty they need over what will be a difficult winter."
For further details of both the furlough scheme and support available for the self-employed, PLEASE VISIT THE GOVERNMENT'S BUSINESS SUPPORT PAGE.