The Coronavirus Job Retention Scheme (CJRS), which covers 80% of furloughed employee’s wage costs, has been extended until the end of October, the Chancellor confirmed on Wednesday 12 May.
The scheme, which was due to expire at the end of June, will now be extended until the end of October, with the Government guaranteeing that the amount covered by the scheme will remain at 80%.
From July, businesses will be able to bring back furloughed employees part time, with employers being asked to pay a percentage towards the salaries of furloughed staff.
The employer payments will substitute the contribution the government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month.
Full details on the scheme’s extension will be set out before the end of May.
View the full announcement here