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Furlough scheme changes were announced by Rishi Sunak recently in his 2021 Budget, with the Chancellor detailing the Job Retention Scheme would be extended into September. Today, the ONS released research on how coronavirus effects differ between men and women, as recent data shows furlough plans are impacting people differently.
| UPDATED: 13:11, Mon, Mar 8, 2021
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Consumer credit statistics have been analysed in the FICO UK Credit Market Report for January which highlighted a mixed and perhaps confusing picture of UK consumer finances. The global analytics software provider warned furlough and forbearance appear to be masking the true impact of the pandemic, which may well lull politicians and lenders into a false sense of security.
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Rishi Sunak extended the furlough scheme in December as it became clear that coronavirus would continue to impact the economy. These changes were made ahead of the March budget, in which the Chancellor confirmed the Government will deliver it s next phase of tackling the pandemic.
| UPDATED: 16:30, Tue, Jan 19, 2021
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Rishi Sunak has extended the furlough scheme into April 2021 and on top of this, Boris Johnson has placed the UK into another lockdown which shows no sign of being ended anytime soon. Recent analysis from Citation Law predicts that the current restrictions will be in place until the Spring which will mean the impacts of coronavirus will have had an effect on the economy for over a year.
| UPDATED: 21:59, Thu, Jan 14, 2021
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The furlough scheme has offered support to nearly 10million people, providing them with financial support if they have been affected by the COVID-19 crisis. Many employers have been forced to place their workers on furlough due to lockdown measures implemented to stop the spread of the pandemic. However, there are rules which must be abided by when it comes to the scheme, including employees not being permitted to work for the company in question while on furlough.