Chancellor Rishi Sunak has announced that the furlough scheme that provided 80% wages to workers across Britain will be extended to March next year 2021.
While addressing the House of Commons, Sunak the scheme will continue to pay workers’ a wage of £2,500 per month and the government will review the policy in January 2021.
Sunak’s announcement came after the government faced pressure from industries which has suffered a heavy loss in their business due to the coronavirus outbreak. He said, “I want to give businesses security through the winter and it will protect millions of jobs”.
The chancellor also announced billions of pounds of other support for the economy, including more money for self-employed people. He said, “for self-employed people, I can confirm the next income support grant which covers the period November to January, will now increase to 80 percent of average profits, up to £7,500”.
At the same time, the chancellor raised secured funding for the UK’s delegated administrations by £2 billion to £16 billion
Last week, Chancellor said, “Over the past eight months of this crisis we have helped millions of people to continue to provide for their families. But now – along with many other countries around the world – we face a tough winter ahead”.
Talking about the constant policy changes, Sunak said, “It is not a weakness to be fast-moving in a crisis, but rather a strength”.