Furlough scheme extended until the end of March
Author: Rafi Benady | Thursday 5th November 2020
Chancellor Rishi Sunak has today announced that the furlough scheme will be extended until the end of March next year.
In a statement made to MPs, Mr Sunak said that the payments would remain at 80% of people's wages.
He also announced support for the self-employed with the next income support grant for November to January increasing to 80% of average profits up to £7,500.
The policy will be reviewed in January, to establish whether "economic circumstances are improving enough to ask employers to contribute more".
He added: “Our highest priority remains the same: to protect jobs and livelihoods."
Mr Sunak's statement comes after the Bank of England said it was injecting an extra £150bn into the economy.
HM Revenue and Customs, which oversees the furlough scheme, has suggested that up to 10% of the money delivered by the scheme to mid-August - around £3.5bn - may have been paid out in fraud or error.