The Chancellor, Rishi Sunak, has today set out new measures in the Jobs Support Scheme to help retain jobs in a statement to the House of Commons.
The new scheme, starting on 1 November 2020 and lasting 6 months, will help employers keep jobs open for employees by enabling them to bring back employees on reduced hours.
To be eligible, employees must work 33% of their hours. The remaining hours can then be topped up by the employer and the Government, each paying one third each of the remaining hours.
The Chancellor announced that the furlough scheme will end on 31 October 2020 as previously planned.
The new scheme is open to all employees, even those previously furloughed.
All SMEs are eligible and larger organisations eligible if their turnover has reduced due to the pandemic.
The Government's contribution will be capped at £697.92 per month for each employee.