Chancellor Could Unveil Extension to Furlough Scheme for Vulnerable Sectors

Chancellor Rishi Sunak could reportedly unveil an extension to the furlough scheme for vulnerable businesses

Chancellor Rishi Sunak is expected to announce that businesses temporarily shut down as a result of ever-tightening coronavirus measures will receive taxpayer support to fund up to 80% of their staff’s wages.

He is expected to make the announcement later today (October 9)

An extension of the scheme would provide a safety net for the most vulnerable businesses.

According to the BBC, a Treasury spokesperson said Rishi Sunak’s latest move as part of the Jobs Support Scheme would help to “protect jobs and provide a safety net for those businesses that may have to close in the coming weeks and months”.

This is further to the previously announced Winter Recovery Plan which will replace the furlough scheme when it ends this month.

The new scheme will see workers get three quarters of their normal salaries for six months.

A spokesperson for the Treasury said: “The chancellor will be setting out the next stage of the job support scheme later today, that will protect jobs and provide a safety net for those businesses that may have to close in the coming weeks and months.”

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