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NEWS FLASH: Government’s furlough scheme extended until October

Chancellor-at-work-Feb-20

The Furlough scheme, officially known as the Job Retention Scheme, has been extended until October.

Chancellor Rishi Sunak, making an announcement in the House of Commons, confirmed that employees would continue to receive 80% of their salaries up until the end of October.

This makes the scheme eight months long in total.

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He explained how until the end of July there will be no changes, but detailed how there will be “greater flexibility” from then until the end of October.

This move will allow jewellery firms to put employers back into work on a part-time basis, if needed.

Speaking in the House of Commons, Rishi Sunak said the government will require employers to make a contribution from August onwards, but employees will continue to get the same support they do now – 80% of monthly wages up to £2,500. He gave no further details as to what the contribution would be.

The Chancellor’s message that the Government and specifically the Treasury continues to do “everything we can” to protect workers throughout the crisis.

His announcement follows Boris Johnson’s address yesterday which laid out the Government’s roadmap for getting the nation back to work.

What does Boris Johnson’s recovery strategy mean for the jewellery industry?

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The author Stacey Hailes

Editor, Professional Jeweller

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