The furlough scheme will be extended across the UK until the end of March 2021, chancellor of the exchequer Rishi Sunak has confirmed.
Chanellor Sunak said the scheme will pay up to 80% of employee’s wage up to a maximum of £2,500 a month. Speaking to the House of Commons, 5 November, he added that the Government will review the policy in January.
The news comes the same day as it was confirmed events for up to 30 can continue during lockdown, so long as they are necessary, and advice to Local Authorities suggested events businesses should be helped.
The Association of Independent Professionals and the Self-Employed (IPSE) has welcomed the extension of SEISS and hopes “Government will do the right thing” by matching employee support until March. The Self-Employment Income Support Scheme (SEISS) of 80% of income has been extended until January.
Derek Cribb, CEO of IPSE said it is “absolutely right” for the Government to adapt its approach and extend SEISS at the same level as the furlough scheme until January. “We hope the Government will do the right thing and extend it in-line with employee support until March,” he said.
“We also urge the Government to finally address the gaping holes in SEISS, extending support to the desperately struggling newly self-employed, limited company directors and other groups it has so far left behind.
“The government has provided admirably robust support for many employees and self-employed people, but at every turn it continues to ignore large groups of the self-employed who have been financially devastated in the last six months. We thank the government for its support, but must press on it the urgent need for a targeted approach to help these forgotten groups.”