Following UK PM Boris Johnson’s roadmap wherein he said that non-essential stores may remain shut until Easter, now Chancellor Rishi Sunak, reports say, might extend the Covid furlough scheme in the upcoming budget.
The Chancellor, in all likelihood, may extend the furlough scheme until July 2021.
The job retention scheme, which was supposed to end in April, will thus get an extension of few more months.
Here it is imperative to mention that Rishi had extended the scheme last December.
As per media reports, Chancellor is also considering to reinstate a Government scheme wherein one-off bonuses will be paid to companies that take back all furloughed employees. However, there is no official confirmation on the same from the Treasury.
The Budget, which will be the first to be presented in the House of Commons since the pandemic started last year, is therefore eagerly awaited.
Importantly, the Treasury has already spent over £300 billion to help struggling businesses in the country all through the crisis.
Prime Minister Boris Johnson too had earlier this week said that Government will continue to do whatever it takes to save jobs.
We will keep you updated about all latest developments on the same.
