Chancellor extends furlough and government-backed loan schemes
On Thursday 17th December, the Chancellor of the Exchequer Rishi Sunak announced a month-long extension of the Coronavirus Job Retention Scheme (CJRS), meaning it will now run until the end of April 2021.
As part of the scheme, the Government will continue to pay up to 80% of the wages of workers that have been furloughed.
In addition to the prolonged furlough scheme, the Chancellor has announced that the government-guaranteed Covid-19 business loan schemes, originally due to close at the end of January, will be extended until the end of March 2021.
These announcements come alongside the confirmation that the next Budget will take place on Wednesday 3 March 2021, where the Chancellor will set out the next phase of the plan to try to limit the impact of the virus and protect jobs.
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