06 Nov 2020
The Chancellor Rishi Sunak has announced workers across the United Kingdom will benefit from increased support with a five-month extension of the furlough scheme into Spring 2021.
• The furlough scheme will now be extended until the end of March – protecting millions of jobs across all nations.
• The next self-employed income support grant will also increase from 55% to 80% of average profits - up to £7,500.
• 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.
• Similarly, support for millions more 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.