IMPORTANT: UPDATED 13/05/2020
Following The Prime Minister, Boris Johnson’s announcement of Sunday Night (10 May 2020) where he set out the governments suggestions to slowly release some of the restrictions currently in place to ease lockdown, and a path back to ‘normality’, he confirmed over the course of the week further announcements would be made in relation to how this may look in practice with guidance.
As part of those plans, yesterday, Tuesday 12 May 2020, The Chancellor of the Exchequer, Rishi Sunak, confirmed the Job Retention Scheme, also known as the Furlough Scheme would be extended for a further 4 months’ until the end of October 2020.
The first phase of the scheme, until 31 July 2020, will remain unchanged from the current scheme; however, from 1 August 2020 the scheme will change to enable employees to return to work on a part-time basis and to help boost the economy.
The exact details of how the scheme will work from 1 August 2020 have not yet been confirmed, however, the Chancellor has confirmed they will be provided by the end of the month (May).