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UK's furlough scheme to be closed to new entrants: reports

UK's furlough scheme to be closed to new entrants: reports
  • Lauren Mason
  • 27 May 2020
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The UK's chancellor of the exchequer Rishi Sunak is set to announce that the UK Government's furlough scheme will be closed to new entrants in a speech at the end of this week.

According to the FT, the cut-off date for the job retention scheme - which is an 80% salary contribution (of up to £2,500 per month) to those temporarily made redundant as a result of the coronavirus fallout - is yet to be confirmed.

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Sunak, Britain's finance minister, will also reveal how companies will be expected to contribute to the furlough scheme from the beginning of August, with businesses likely to have to pay 20% of workers' wages and for employees to be allowed back to work on a part-time basis.

According to the FT, the Treasury is therefore eyeing a cut-off date for new participants into the scheme to prevent companies from simply making full-time workers part-time under the new rules.

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