Member of Parliament for Clwyd South, Simon Baynes MP, has welcomed the Chancellor’s announcement today that workers across the UK will benefit from increased support with a five-month extension of the furlough scheme into Spring 2021.
The Coronavirus Job Retention Scheme (CJRS) will now run until the end of March with employees receiving 80% of their current salary for hours not worked.
Similarly, support for millions more workers through the Self-Employment Income Support Scheme (SEISS) will be increased, with the third grant covering November to January calculated at 80% of average trading profits, up to a maximum of £7,500.
The Chancellor also announced today an increase in the upfront guarantee of funding for the devolved administrations from £14 billion to £16 billion. This uplift will continue to support workers, business and individuals in Scotland, Wales and Northern Ireland.
The Chancellor of the Exchequer, Rishi Sunak MP, said:
“I’ve always said I would do whatever it takes to protect jobs and livelihoods across the UK - and that has meant adapting our support as the path of the virus has changed.
“It’s clear the economic effects are much longer lasting for businesses than the duration of any restrictions, which is why we have decided to go further with our support.
“Extending furlough and increasing our support for the self-employed will protect millions of jobs and give people and businesses the certainty they need over what will be a difficult winter.”
Simon Baynes MP said:
“Once again, this Conservative UK Government has demonstrated it will do whatever it takes to support the country through this pandemic and protect jobs and livelihoods across the whole UK over the winter.
“This decision taken by the Chancellor is good news for jobs and businesses in Clwyd South where this support will help workers impacted by Covid-19 and provide further reassurance for those that might be worried about the winter months ahead.”