All the latest news, events and information from the Smyth & Co. team.
The Government’s Coronavirus Job Retention Scheme will remain open until the end of October.
The key points announced by Chancellor Rishi Sunak are:
1. Coronavirus Job Retention Scheme will continue until end of October
2. Furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500
3. New flexibility will be introduced from August to get employees back to work and boost economy
The Government stated that as we reopen the economy, we need to support people to get back to work. From the start of August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their 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.
New statistics published a few days ago revealed the job retention scheme has protected 7.5 million workers and almost 1 million businesses.
The scheme will continue in its current form until the end of July and the changes to allow more flexibility will come in from the start of August.
More specific details and information around its implementation will be made available by the end of this month.
The government will explore ways through which furloughed workers who wish to do additional training or learn new skills are supported during this period.