(The Chancellor of the
Exchequer): The Government’s economic plan is one of the
most comprehensive in the world.
We have provided:
- Billions of pounds of grants and loans for businesses
- Tens of billions of pounds of deferred taxes
- Income protection for millions of the self-employed
- And a strengthened safety net to protect millions of the most
vulnerable people.
These schemes speak to my and this Conservative government’s
values. We believe in the dignity of work. And we are doing
everything we can to protect people currently unable to work.
Yesterday, my Right Honourable Friend the Prime Minister set out
our plan for the next phase of the public health response. Today
I can confirm the next stage of our Jobs Retention Scheme.
The scheme has been a world-leading economic intervention,
supporting livelihoods and protecting futures. 7.5 million jobs
have been furloughed – jobs we could have lost if we had not
acted. Nearly a million businesses who could have closed shop for
good. And as we reopen the economy we will need to support people
back to work. We will do so in a measured way.
I can announce the job retention scheme will be extended, for
four months, until the end of October. By that point, we will
have provided eight months of support to British people and
businesses.
Until the end of July, there will be no changes whatsoever. Then
from August to October the scheme will continue, for all sectors
and regions of the UK, but with greater flexibility to support
the transition back to work. Employers currently using the scheme
will be able to bring furloughed employees back part time. And to
change their incentives, we will ask employers to start sharing,
with government, the costs of paying people’s salaries.
Full details will follow by the end of May, but I want to assure
people today of one thing that won’t change: Workers will,
through the combined efforts of government and employers,
continue to receive the same overall level of support as they do
now, at 80% of their current salary, up to £2,500. I’m extending
this scheme because I won’t give up on the people who rely on it.
