Government extends Job Retention Scheme for another month

Due to the great damage caused to the UK economy by the Coronavirus pandemic, the government has decided to extend the Job Retention Scheme for another month. In this way, the Job Retention Scheme will last until the end of June. This action will seek to reduce the economic impact caused by social distancing measures that prevent more than 9 million workers from continuing with their work.

“It is an unprecedented measure to help our citizens”

The Coronavirus Job Retention Scheme allows companies to furlough employees, and the government pays them a cash allowance of up to 80% of their salary, with a limit of £ 2,500.

The Chancellor of the Exchequer, Rishi Sunak, gave statements on this matter: “The UK government has remained at the forefront of the fight against the Coronavirus. We have made the decisions that we consider correct to support our citizens and allow them to cope with this crisis in a simpler way.”

“We know that companies are a fundamental part of the economy in the United Kingdom, which is why we have made great efforts to soften the impact that the Coronavirus has had, not only on our economy but also on the lifestyle of all our citizens. The Job Retention Scheme is just another of our emergency measures to face the crisis.”

“We consider that the impact has been more drastic than our experts anticipated; we believe that by extending the scheme until the end of July, we will be able to provide greater economic security to our citizens and help them during this difficult time.”

“It is vital for our recovery that all people are protected against any economic adversity; the government is committed to the maximum, to face the crisis that the Coronavirus has caused to the United Kingdom. We do not rule out the possibility of making another extension if we consider it necessary.”

“An economic recovery will be possible, but very difficult”

Experts say the UK’s economic recovery is “a matter of time” world economies, despite being affected by the Coronavirus may recover in a shorter period than anticipated, but it will be difficult and will require a lot of work to reactivate the economy.

The UK government has recently launched a package of economic measures to counter the impact of the Coronavirus pandemic. The Job Retention Scheme is one of these measures, although the slowness of the government to issue payments was questioned at first; the scheme has been endorsed by citizens as an essential help to endure the crisis.