Back to Work, Flexibly – New Development from Government’s Coronavirus Furlough Scheme, July 202006-Jul-2020
July will see employers being able to bring back workers on a part-time basis, where the employer will have to pay a worker’s wage for any hours that they
are in work.
Up till the end of June 2020, figures showed that over 9 Million people in the UK had been furloughed. Data released by the Treasury show that by midnight on 28th June 2020, nearly £26 Billion in wage subsidies had been paid to employers. In addition to this, the support scheme for the self-employed rose to nearly £8 Billion.
According to recent information from the Office of National Statistics, approximately 500,000 workers had left the furlough scheme in the fortnight leading to July as the economy gradually reopened, where a survey of over 5,000 companies showed that seven per cent of the workforce had left the scheme in the first half of June.
And this figure is expected to grow even more when the hospitality sector starts reopening its doors from the beginning of July.
At the same time, the furlough scheme will also see a change as workers will be allowed to work part-time while their companies still claim money from the Government.
From the beginning of July 2020, companies will be able to bring back furloughed employees to work a flexible pattern and still claim back funds for time that they do not work, but it is understood that this will only apply where a company has previously furloughed employees.
Thousands of employees are being told that their jobs are reliant on the Government’s furlough scheme as the coronavirus crisis collapses businesses. But what does this mean?
Financial journalist Martin Lewis looks to explain this and more at the Money Saving Expert (MSE) website. On top of information to consumers on saving money in the form of deals, tips and other resources, there are details explaining about the Government's Furlough Scheme.
More information explaining about the furlough scheme announcement can be found at the MSE website.