The Chancellor Rishi Sunak has today announced that the Coronavirus Job Retention Scheme will be extended by one month until the end of June.
It is also known as the furlough scheme.
Reacting, Phil Smith – who is Managing Director of Business West, comments: “Businesses will be pleased that the Chancellor has responded to their calls for the Job Retention Scheme to be extended. This common sense move will provide many with the support they need to protect livelihoods as lockdown continues.
“With applications for the scheme opening on Monday, and April’s payday fast approaching, it is essential that payments are made as soon as possible. Any delay would exacerbate the cash crisis many firms are facing and could threaten jobs and businesses.”
More to follow.
To read more about what furlough leave is click here