5/12/2020, 2:42 PM (Source: TeleTrader)
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UK extends job retention scheme for four months

Chancellor of the Exchequer Rishi Sunak has confirmed the previous reports that the United Kingdom's job retention scheme would be extended for another four months, as it was.

Speaking on Tuesday in the House of Commons, Sunak added the funding of the workers' monthly wages up to £2,500 would be left unchanged at 80%. The scheme now covers some 7.5 million people.

"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 to the scheme whatsoever,” Sunak said, "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."

Baha Breaking News (BBN) / JR