Lubbock Fine, 23 December 2020
On 17 December 2020, Chancellor Rishi Sunak announced a further extension to the Coronavirus Job Retention Scheme (CJRS).
The furlough scheme will now be extended until 30 April 2021, allowing employees to receive up to 80% of their current salary. The Scheme will pay up to 80% of wages for hours not worked up to £2,500 a month, with employers covering National Insurance and pension contributions.
The furlough scheme extension will apply across the whole of the UK, as long as employers meet the eligibility criteria.
The Chancellor also confirmed that he would be extending the government-guaranteed COVID-19 business loan schemes until 31 March 2021, beyond their original closing date in January 2021. These include:
The Government has already announced there is to be a successor loan scheme which will be available beyond March.
The Chancellor also confirmed that the Budget will take place on 3 March 2021, where the next phase of the plan to tackle the virus and protect jobs will be announced.