A JOB-SAVING scheme will be extended until the end of April amid rising cases of coronavirus across the country.
Chancellor Rishi Sunak has announced that the coronavirus job-retention scheme (CJRS) will be kept on until the end of April next year, with the Government continuing to pay 80 per cent of employee wages.
The announcement today comes as the governments of all four UK nations grapple with public messaging around Christmas restrictions, and the rate of unemployment across the country rises.
It was revealed earlier this week that 370,000 people have been made redundant between August and October this year - the largest quarterly figure on record.
Businesses all over the country have been forced to close as a result of varying lockdown measures, which have been tightened this week in areas including Aberdeen and London.
Wales will go into a full lockdown after Chirtsmas, and Northern Irish politicians have proposed a six-week lockdown for the country.
Announcing the extension to the CJRS furlough scheme, Mr Sunak said: "
“Our package of support for businesses and workers continues to be one of the most generous and effective in the world – helping our economy to recover and protecting livelihoods across the country.
“We know the premium businesses place on certainty, so it is right that we enable them to plan ahead regardless of the path the virus takes, which is why we’re providing certainty and clarity by extending this support, as well as implementing our Plan for Jobs."
Along with the wage subsidy scheme, companies will be able to apply for coronavurs loans backed by the UK Government until the end of March.
These changes come ahead of the Budget, which the Chancellor has confirmed will take place on 3 March 2021.
So far, the CJRS has helped 9.6 million jobs across the UK with more than one million businesses accessing loans to help them through the crisis.
Business Secretary, Alok Sharma, said: “While our loan schemes have provided a vital lifeline to millions of firms across the country, we know that business owners need additional certainty as we head into the New Year.
“Extending government-backed loan schemes will give companies right across the UK the finance they need to support, protect and create jobs as we build back better from the pandemic.”
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