BREAKING: Furlough scheme extended until March 2021, Chancellor of the ...

FURLOUGH leave under the Coronavirus Job Retention Scheme will be possible beyond December 2020, Chancellor of the Exchequer Rishi Sunak announced today during his Live Economy Update Statement in the House of Commons today.

PUBLISHED: 12:02, Thu, Nov 5, 2020 | UPDATED: 12:31, Thu, Nov 5, 2020

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Rishi Sunak has promised to keep the furlough scheme in effect even following the end of England's second lockdown on December 2. The Chancellor of the Exchequer confirmed the scheme - which pays 80 percent of furloughed employees' wages up to £2,500 per month for hours not worked - will continue to be available in any area of the UK which may face the highest level of coronavirus restrictions.

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Mr Sunak said the policy would be reviewed in January.

Rishi Sunak extended the furlough scheme beyond the former cut-off of October 31 last week, following the government announcing a second national lockdown in England.

Since Saturday, it had been set to last until the end of England's four-week lockdown on December 2 this year.

At the moment in time, businesses have flexibility to bring furloughed employees back to work part-time or to furlough them full-time.

READ MORE: Rishi Sunak shares details on third SEISS grant

Furlough scheme: Rishi Sunak and furlough signFurlough scheme: Rishi Sunak will reportedly extend the scheme across the UK beyond December (Image: GETTY)

Furlough scheme guideFurlough scheme: The Coronavirus Job Retention Scheme was announced in March this year (Image: GETTY / EXPRESS)

They will only be asked to cover National Insurance and employer pension contributions.

Mr Sunak also addressed changes to the support for self-employed people.

He said in the Commmons: "For self-employed people, I can confirm the next income support grant which covers the period November to January, will now increase to 80 percent of average profits, up to £7,500."

Last week, Chancellor Rishi Sunak said: “Over the past eight months of this

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