Yesterday the government announced that the Coronavirus Job Retention Scheme (CJRS) will be extended until the end of March 2021 for all parts of the UK. For claim periods running to 31 January 2021, the UK Government will pay 80% of employees’ usual wages for hours not worked, up to a cap of £2,500 per month.
Chancellor Rishi Sunak said the extension came in response to a recent assessment by the Bank of England, which has intervened to offer a £150bn boost to the economy, saying that the downside risks had increased and highlighting significant uncertainty about the timescale for recovery.
People Group now await further guidance from government on the details of the extended scheme which are due to be announced next week.
As soon as more detail is available we’ll update our news pages.