Coronavirus job retention scheme goes live

On the 20 April 2020 the Government’s Coronavirus Job Retention Scheme went live for applications – 10 days ahead of schedule. The scheme allows businesses to furlough their employees, with the government paying 80% of their wages, capped at £2,500 a month per worker.

Chancellor of the Exchequer Rishi Sunak said:

“Our unprecedented job retention scheme will protect millions of jobs across the country and is now up and running.

“It’s vital that our economy gets up and running again as soon as it’s safe – and this scheme will allow that to happen.”

Last week the Chancellor announced the scheme will be extended for a further month until the end of June, to reflect continuing Covid-19 lockdown measures.

The Job Retention Scheme is part of a package of measures announced by the Chancellor to support the country through the coronavirus pandemic. He has already supported employers with a £30bn injection of cash by deferring VAT payments for the next quarter, has launched a scheme for the self-employed, loans for businesses and a rise in Universal Credit.

To learn more about the Coronavirus Job Retention Scheme, visit the Government’s own website.