UK Finance Minister Rishi Sunak extends Furlough Scheme until October

British Chancellor of Exchequer Rishi Sunak has extended job retention scheme by a furr four months until end of October to boost millions of jobs and businesses. Indian-origin Finance Minister said in a statement that government, by that time, will have provided eight months of support to British people and businesses.

“Our Coronavirus Job Retention Scheme has protected millions of jobs and businesses across UK during outbreak – and I’ve been clear that I want to avoid a cliff edge and get people back to work in a measured way,” said Sunak while anuncing extension of furlough scheme from House of Commons.

40-year-old Conservative leer said that re will be change in scheme until end of July but new flexibility will be introduced from August to support transition back to work. According to treasury department, specific details regarding introduction of flexibility will be me available by end of May.

government will also ask employers to start paying a percent towards salaries of ir furloughed staff. Sunak asserted that employees will continue to receive 80 per cent of ir salary, up to £2,500, through combined efforts of government and employers.

“This extension and changes we are making to scheme will give flexibility to businesses while protecting livelihoods of British people and our future ecomic prospects,” said Finance Minister.

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Decision welcomed

decision to extend Job Retention Scheme will continue to apply across all regions and sectors of UK ecomy. Tres Union Congress and British Chambers of Commerce have welcomed decision saying chancellor has clearly been listening to unions and Chamber business communities.

“ Chancellor is once again listening to what we’ve been saying, and changes planned will help businesses bring ir people back to work through introduction of a part-time furlough scheme, said BCC Director General am Marshall in a statement.

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(Im: AP)