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Covid: Furlough scheme set to wind down further

Business / Thu 29th Jul 2021 at 08:39am

FURLOUGH will be wound down further from Sunday as the government asks employers to make a bigger contribution to the wage support scheme reports the BBC. 

An estimated 1.3 million people were on the scheme at the beginning of July, down from a peak of 5.1 million at the height of lockdown in January. 

The scheme has been extended several times but will end on 30 September. 

It is credited with stopping a spike in unemployment and some fear jobs will be lost when it ends. 

The scheme, drawn up after lengthy talks with business groups and union leaders, has cost taxpayers almost £50bn to date, arousing fears taxes will have to rise to pay for it.

Under the Coronavirus Job Retention Scheme (CJRS), known as furlough, staff receive 80% of their current salary, capped at £2,500 per month.

For the full article, click below.

https://www.bbc.co.uk/news/business-57981760?at_custom1=%5Bpost+type%5D&at_custom3=%40BBCScotlandNews&at_campaign=64&at_custom4=225FB3B8-F039-11EB-ADC2-5C10BECD475E&at_custom2=twitter&at_medium=custom7

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1 Comment for Covid: Furlough scheme set to wind down further:

Jerry
2021-07-30 14:48:55

If you are being given the top rate on the furlough scheme after tax and NI your take home pay is £2005 a month, no wonder many are dreading the scheme ending.

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