Furlough scheme extended until end of March

Chancellor Rishi Sunak has extended the Government’s furlough scheme until the end of March 2021.

In a statement in the House of Commons, Sunak said: Our highest priority remains the same; to protect jobs and livelihoods. Given the significant economic uncertainty, we can announce today that the furlough scheme will be extended until the end of March.”

The Government will continue to pay 80% of the wages of furloughed staff and review the measures in January.

Sunak also said because of the new measures, the Government’s Job Retention Scheme has been postponed.

There was also good news for the self-employed, with the Chancellor announcing that the Government will pay 80% of average profits for the period November to January.