AIA RESPONDS TO EXTENSION OF THE FURLOUGH SCHEME

Following the announcement of further lockdown measures in England the Chancellor has announced that 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. In addition, support for the self-employed has also changed and 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.

AIA chief executive, Philip Turnbull said: “This intervention by the Chancellor to extend the furlough scheme to March 2021 and further support the self-employed via the Self-Employment Income Support Scheme is welcomed and will provide some certainty for businesses during this changeable and unpredictable period. However UK businesses are not only facing the challenges of Covid-19, but are also preparing for Brexit and it is vital that the government furthers its efforts to create a long term vision for the economy that will ensure a sustainable recovery.”

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UK businesses are not only facing the challenges of Covid-19, but are also preparing for Brexit and it is vital that the government furthers its efforts to create a long term vision for the economy that will ensure a sustainable recovery