Chancellor Rishi Sunak announces extension to furlough scheme - this is when it will run until

Speaking in the House of Commons on Thursday, November 5, Rishi Sunak revealed that the furlough scheme will be extended until the end of March, 2021.

The scheme will continue to pay employees 80% of their current salary for hours not worked.

Mr Sunak told the Commons on Thursday: “We can announce today that the furlough scheme will not be extended for one month, it will be extended until the end of March.

“The Government will continue to help pay people’s wages up to 80% of the normal amount. All employers will have to pay for hours not worked is the cost of employer NICs and pension contributions.

“We will review the policy in January to decide whether economic circumstances are improving enough to ask employers to contribute more.”

The Chancellor of the Exchequer went on to say that the Government’s highest priority remains “to protect jobs and livelihoods”.

He also outlined support for those who are self-employed, with support grants covering from November to January being increased.

The chancellor added: “For self-employed people, I can confirm the next income support grant which covers the period November to January will now increase to 80% of average profits up to £7,500.”

During his announcement of England’s second national lockdown on Saturday, October 31, Boris Johnson announced that the scheme would be extended throughout November.

The latest announcement is a move away from the Job Support Scheme, which was set to come into place when furlough ended at the end of last month.

The North East Chamber of Commerce have welcomed Mr Sunak’s extension, saying it will be a “great help” to many.

Jonathan Walker, the director of policy said: “We welcome today’s announcement by the Chancellor on the extension of the furlough scheme.

“It will certainly be a great help to many businesses who are facing more restrictions at the moment.

"We have stressed to Government the importance of extending the financial support for longer to avoid a cliff edge end to it and we are pleased they have listened.

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