Make UK responds to coronavirus job retention scheme extension
21 April 2020
The Treasury has announced that it will extend the UK's coronavirus job retention scheme by one month until the end of June.
The government’s unprecedented scheme, which is keeping millions of people in jobs, allows firms to furlough employees with the government paying cash grants of 80% of their wages up to a maximum of £2,500. It was originally open for three months and backdated from the 1 March to the end of May.
"This extension means that firms will no longer be forced to issue redundancy notices over the next few days to comply with 45-day consultation requirements, and can instead return to focusing on protecting jobs and their businesses," said CBI boss Dame Carolyn Fairbairn.
Stephen Phipson, CEO of Make UK, the manufacturers’ organisation, commented: “This is a welcome announcement which will help secure many thousands of manufacturing jobs up and down the country. Amid the current crisis it is another building block which will give business further certainty and help shore up confidence. This is a great example of the government responding positively to the message from business.
“The situation remains very dynamic moving forward, however and we will need to continue to work with Treasury to make sure that businesses get the support that they need in the longer term to allow the economy to recover and for the economy to get back on track.”