Household Bills
Furlough scheme ‘to be extended until September’
Changes to the furlough scheme could be announced by chancellor Rishi Sunak as early as tomorrow, the Telegraph said.
The newspaper said cabinet ministers have begun telling bosses that the furlough scheme will continue to run during the summer, with the government covering 60% of a furloughed employee’s salary, down from the current 80%.
A Treasury source told the paper that talks about the furlough scheme were ongoing.
Figures from HMRC published last week revealed 6.3 million people were furloughed in the first two weeks of the job retention scheme launching, at a cost of £8bn to the state.
Sunak last week said spending on the furlough scheme was similar to that of running the NHS.
Speaking on ITV News, he said: “Clearly that is not a sustainable situation which is why, as soon as the time is right, we want to get people back to work and the economy fired up again.”
The Coronavirus Job Retention Scheme, which pays 80% of a workers’ salary up to £2,500 a month, was originally due to run until the end of June.
Sunak said there will be no “cliff edge” ending of the scheme amid fears it would trigger mass redundancies.
There are 0 Comment(s)
Big flu jab price hikes this winter: Where’s cheapest if you can’t get a free vaccine?
Pharmacies, supermarkets and health retailers are starting to offer flu jabs ahead of the winter season, but t...
Is now the time to fix your energy deal?
Fixed energy tariffs all but disappeared during the energy crisis. But now they are back with an increasing nu...
Everything you need to know about the pension triple lock
Retirees are braced to receive another bumper state pension pay rise next year due to the triple lock mechanis...
What will happen if rates change
How your finances will be impacted by a rise in interest rates.
Regular Savings Calculator
Small regular contributions can build up nicely over time.
Online Savings Calculator
Work out how your online savings can build over time.
The best student bank accounts in 2023: Cash offers, tastecards and 0% overdrafts
A number of banks are luring in new student customers with cold hard cash this year – while others are compe...
DIY investors: 10 common mistakes to avoid
For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.
Mortgage down-valuations: Tips to avoid pulling out of a house sale
Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?
Money Tips of the Week
© AE3 Media Ltd, 21 Great Winchester Street, London EC2N 2JA, Company.