Business Development, Finance

NEWS: Sunak reveals furlough scheme’s “next steps” as lockdown continues

Laura McGuire | 1 June 2020 | 4 years ago

On Friday 29th of May, Chancellor RishI Sunak re-addressed the nation regarding the Coronavirus Job Retention scheme (CJRS).

The package was originally launched on the 23rd of March when Britain first entered a period of lockd0wn to prohibit the mass spread of coronavirus.

The scheme allowed for employers to “furlough” staff members and in turn, the Government would pay 80% of their salary.

This financial aid programme, which is being claimed by up to 8.4m people was originally only meant to run until the 31st of May a date that was then extended to October 2020 by the chancellor.

Under Friday’s changes, furloughed workers will continue to get 80% of their salary paid until the end of October, but by then a fifth of their salary will have to be met by employers.

“After eight months of this extraordinary intervention of the government stepping in to help pay people’s wages, the scheme will close, ” Mr Sunak said.

Despite the Government outlining a clear plan on when they will cease providing financial aid to effected business owners and workers, there is still no official date for when lockdown laws will cease for good.

All non-essential retailers, from department stores to small independent shops, can reopen in England from June 15th, if they put in place?social distancing measures.

Outdoor markets and car showrooms can reopen from today June, 1st if they are “COVID-secure”. However, the Government has said these dates could change if coronavirus infection rates increase.

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