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New Furlough???

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The Financial Times (£) is reporting that the Chancellor, Rishi Sunak, is considering a new style job subsidy scheme for when the Coronavirus Job Retention Scheme ends on 31 October.

One possibility, proposed by the CBI, is a state subsidy if an employer was able to offer workers at least 50% of their normal hours. The company would meet the full wage bill for the hours worked by an employee. But for non-working hours, the wage bill would be shared, with a third paid by the company, a third by the Treasury and a third foregone by the employee.

The TUC has proposed a similar scheme, but with workers continuing to receive 80% of their pay for the time they are not working, or 100% if they are on minimum wage.

The Government's official position remains, at least for now, that the furlough scheme will end on 31 October 2020 and that it will look at targeted assistance only after that date.