As discussed in our previous newsletter last week the chancellor, Rishi Sunak, announced that the furlough scheme has been extended until the end of April 2021. The government will continue to contribute 80% towards employees wages until this time.
As well as this the Chancellor also extended the application of the Government-guaranteed Covid-19 support loans until the end of March to aid businesses struggling during the pandemic.
The Chancellor stated:
“Our package of support for businesses and workers continue to be one of the most generous and effective in the world – helping our economy to recover and protecting livelihoods across the country.”