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Economy Update

12 May 2020

Proposing MP
Rishi Sunak Con
Richmond and Northallerton
Type
Written Ministerial Statement
Department
Treasury
View on Parliament.uk -->

At a Glance

Issue Summary

The statement is about extending the Jobs Retention Scheme in the UK.

Action Requested

The Jobs Retention Scheme will be extended for four months until the end of October, with no changes until July. From August to October, employers can bring furloughed employees back part-time and share costs with the government starting from August, but workers will continue to receive the same level of support.

Key Facts

  • The scheme has supported 7.5 million jobs.
  • Nearly a million businesses have been helped by the programme.
  • The extension will be for four months until October.
  • No changes in the scheme until the end of July.
  • Employers and government will share costs starting from August to October.
  • Workers will continue to receive 80% of their current salary, up to £2,500.
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