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Newry Chamber of Commerce and Trade have welcomed the extension of the UK Government Coronavirus Job Retention Scheme
Colm Shannon, CEO of Newry Chamber said "The extension of the scheme is something that Newry Chamber asked for and is very welcome."
"The Furlough Scheme has been a lifeline for many businesses and this extension will help them plan for the gradual reopening and support others which will remain closed over the summer."
The Government announced today that the scheme will now continue until end of October with furloughed workers across UK continuing to receive 80% of their current salary, up to £2,500 although new flexibility will be introduced from August to get employees back to work and boost economy.
Chancellor Rishi Sunak explained "As we reopen the economy, we need to support people to get back to work. From the start of August, furloughed workers will be able to return to work part-time with employers being asked to pay a percentage towards the salaries of their furloughed staff.
The employer payments will substitute the contribution the government is currently making, ensuring that staff continue to receive 80% of their salary, up to £2,500 a month."
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."
New statistics published today revealed the job retention scheme has protected 7.5 million workers and almost 1 million businesses.
The Chancellor added "The scheme will continue in its current form until the end of July and the changes to allow more flexibility will come in from the start of August. More specific details and information around its implementation will be made available by the end of this month.
"The government will explore ways through which furloughed workers who wish to do additional training or learn new skills are supported during this period. It will also continue to work closely with the Devolved Administrations to ensure the scheme supports people across the Union."
