In his Budget speech today, the Chancellor will announce the latest, and perhaps final, extension to the Coronavirus Job Retention Scheme, until the end of September. This extension forms part of the Chancellor’s wider plan for economic recovery post-Coronavirus, and will give much needed reassurance to employers across all sectors, especially those such as hospitality, tourism and retail. Furloughed employees will continue to receive 80% of their wages for hours not worked, assumedly still capped at £2,500 per month.

Similar to the arrangements in the summer and autumn of 2020, the grant support available will taper downwards, with employers required to meet 10% of furloughed employees’ wage costs in July, and then 20% in August and September.

Further support measures for the self-employed are also expected.

More details to follow.

Please contact Jack jack.balmer@tughans.com or your usual Tughans contact, who can refer you to the employment team.

While great care has been taken in the preparation of the content of this article, it does not purport to be a comprehensive statement of the relevant law and full professional advice should be taken before any action is taken in reliance on any item covered.