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Fri, 4 December 2020

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EXCL Treasury urged to extend job retention scheme to prevent wave of redundancies at end of April

EXCL Treasury urged to extend job retention scheme to prevent wave of redundancies at end of April

Rishi Sunak is being urged to extend the Jobs Retention Scheme (PA)

1 min read

The Treasury is being urged to announce the extension of the scheme to pay people’s wages during the coronavirus outbreak to prevent a fresh wave of redundancies at the end of April.

The Coronavirus Job Retention Scheme, unveiled last month by Chancellor Rishi Sunak, commits the Government to covering 80% of the salaries of staff furloughed by their employers, up to a maximum of £2,500 a month.

It is due to stop at the end of May, but the Lib Dem MP Layla Moran said that unless it is extended before 30 April, companies will have to decide then whether to keep them on their books or make them redundant.

Ms Moran, who is her party’s education spokesperson and is also vying to be leader, said: "This scheme has proved a vital lifeline to businesses and employees. 

"Given the scale of the crisis, the Government must extend the scheme for a further three months, with a commitment to keep it going for as long as it's needed.

"Millions of staff are facing the prospect of receiving redundancy notices along with their pay-packets in the next two weeks, unless the Government act. 

“I'm urging them to extend the scheme now; people’s livelihoods and the economy are on the line.”

The Treasury said Mr Sunak has always made it clear the JRS could be extended, and the Chancellor will set out further measures where needed.

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