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The extension of furlough might be too little too late for businesses.
Government guarantee scheme malaysia. If the government are now hoping to halt planned redundancies by providing a four month furlough extension they should have said that initially and announced this weeks if not months ago said dhindsa. Employers were gearing themselves up for the job support scheme to open but found out with just hours notice that the furlough scheme was going to be extended. The furlough scheme protected over nine million jobs across the uk and self employed people have received over 13 billion in support.
Business leaders in coventry and warwickshire have welcomed the extension of the furlough scheme until march 2021 but say firms now need to see a plan for keeping the economy open. The government has extended the furlough scheme meaning workers can get 80 of their salary paid through lockdown. Employers are supposed to agree any changes to employees contracts in advance how are they supposed to do that at six hours notice at a weekend.
The furlough scheme also known as the coronavirus job retention scheme has been extended for one month as the uk economy braces for a second lockdown in england due to start on thursday. Heather self tax partner at blick rothenberg said. The furlough extension is welcomed and finally the chancellor is providing some longer term measures in respect of englands four week lockdown.
The scheme was due to end on october 31 but will now run throughout november as b. The extension of the furlough scheme may be too late to save jobs say tax and advisory firm blick rothenberg. Richard churchill business advisory partner at blick rothenberg said.
This is in addition to billions of pounds in tax deferrals. Furlough extension brings relief for regional businesses but they want to see a future plan. The treasury hasnt given a precise end date to the furlough scheme but said it will run until december.
The governments last minute approach to the furlough extension has made it difficult for businesses to plan their next move says moseley.
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