Unprecedented levels of fiscal support from the UK Government will continue to see over half of all adults being paid by the state as the furlough scheme is extended until the end of October.
With 7.5 million people currently furloughed, the scheme is said to have saved over 4 million jobs.
In an announcement earlier today, Chancellor Rishi Sunak said:
"Our Coronavirus Job Retention Scheme has protected millions of jobs and businesses across the UK during the outbreak – and I’ve been clear that I want to avoid a cliff edge and get people back to work in a measured way.
“This extension and the changes we are making to the scheme will give flexibility to businesses while protecting the livelihoods of the British people and our future economic prospects.”
BVRLA Chief Executive Gerry Keaney welcomed the announcement, saying:
“Extending the Job Retention Scheme to the end of October provides a much-needed financial lifeline to millions of employers who are having to make tough decisions to keep their businesses viable and people safe.
“We are delighted to see the Chancellor take heed of our recommendation to introduce flexibility to the furlough scheme. By enabling businesses to bring back furloughed staff on a part-time basis, employers will have the option to implement a phased return to work as companies look to kickstart their operations in a post-pandemic environment.
"Today’s announcement will undoubtedly prevent millions of job losses and we are grateful to the Chancellor for his continued support of UK businesses.
“The extension of the Coronavirus Job Retention Scheme is great news for all employers that are trying to plan their recovery from the COVID-19 pandemic. We would like to thank all of the members that provided their feedback on this topic and helped us send a clear message to Government."
The Government has introduced a range of financial support packages to help businesses during the Covid-19 pandemic and members are encouraged to visit the BVRLA Covid-19 Business Advice page to find out more.
