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HomeBusiness NewsChancellor set to ‘extend’ £60bn furlough beyond April

Chancellor set to ‘extend’ £60bn furlough beyond April

20th Jan 21 4:02 pm

It has been reported that the Chancellor Rishi Sunak is poised to extend the furlough scheme, according to Treasury sources.

The current furlough scheme is due to end at the end of April, which pays as much as 80% of laid off workers wages which is valued at £60bn.

Any new measures to protect workers and their jobs will be announced on 3 March when the Chancellor unveils his Budget, according to insiders.

Boosting employment will be at the center of Sunak’s March Budget, however it all depends on the success of keep control of the Budget over the next month or so.

The official said, “support for jobs isn’t going to end.”

The Confederation of British Industry (CBI) have urged Sunak to announce before the Budget, as businesses cannot wait almost two months to find out what support there will be.

Director-General Tony Danker of the CBI said, “Our Covid-related business support asks are about moving now or soon, rather than waiting until March 3.

“Business support needs to go in parallel with the tiering of restrictions.

“Sudden stops and cliff edges really don’t help and I don’t think anybody in Government believes that we’re going to have a sudden opening up with the economy.”

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