During his Spring Budget meeting Chancellor of the Exchequer, Rishi Sunak, confirmed that the Coronavirus Job Retention Scheme (CJRS), or more commonly known as Furlough, would run until today, the 30th of September 2021.
The current version of the scheme is the third iteration of the scheme which was initially launched in March 2020 after the discovery of the SARS-CoV-2 Virus in the United Kingdom and the country subsequently going into a national lockdown. The scheme was only initially intended to run until 31st December 2020 however, an ‘extended’ version of the scheme was announced in November 2020 following the announcement of further lockdown measures for England at the time. The scheme has then been extended a further two times taking it now to the final extension date of the 30th September 2021. Full guidance on the scheme is available through Gov.uk.
The UK Government has claimed that 11.6 million jobs have been supported by the scheme during its lifespan with the most recent figures showing around 1.6 million people still on either partial or full Furlough at the end of July 2021, the lowest level since the start of the pandemic, in comparison to May 2020 where nearly nine million people were on Furlough.
At the start of the pandemic it was feared that more than one in 10 workers would become unemployed but thanks to the CJRS, instead the unemployment rate is currently less than one in 20. However, with the scheme now having run from March 2020 to the end of September 2021, the cost of furlough has been estimated to come to around £66bn (according to estimates from the Office for Budget Responsibility).
With the scheme ending today, the 30th September 2021, employers now have until 14 October 2021 to claim for furlough days in September 2021. Any further amendments must be made by 28 October 2021, as detailed on Gov.uk
How can Animo help?
If you have any queries about how the end of Furlough may affect you or your business, get in touch with one of our specialist consultants today who will be able to impart expert insights into best practice for you as either an employer or as a business owner. Get in contact today by calling us on (0)207 060 0835, emailing at email@example.com, or by filling in a contact form below.