As we find ourselves in the third Coronavirus lockdown (with a prospective end in sight) many of us are questioning what financial measures will be implemented by the government after this period ends.
The first furlough scheme ended on 31st October, but was extended in England to cover the next four-week lockdown. Then Chancellor Rishi Sunak confirmed that he would be extending furlough until the end of March 2021.
And now, Rishi will announce he is extending the furlough scheme until the end of September in his Budget.
Rishi Sunak said the scheme – which pays 80% of employees’ wages for the hours they cannot work in the pandemic – would help millions through “the challenging months ahead”.
In other good news, around 600,000 more self-employed people will also be eligible for government help as Rishi will announce access to grants is widened.
Employers will be expected to pay 10% towards the hours their staff do not work in July, increasing to 20% in August and September, as the economy reopens.
Speaking ahead of the Budget, the chancellor said: “Our Covid support schemes have been a lifeline to millions, protecting jobs and incomes across the UK.