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Major furlough scheme change that could save two million UK jobs

Things are about to change for those relying on the scheme

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Changing the furlough scheme to offer an extension could save two million jobs in the UK, according to a think take.

The furlough scheme, which is officially titled The Coronavirus Job Retention Scheme, was launched by Chancellor Rishi Sunak in mid-March.

It was intended to help companies keep their staff on and to try and make sure swathes of the working population weren’t made redundant in the face of unprecedented changes brought about by the coronavirus crisis.

Birmingham Live reports that the pandemic has seen millions of workers furloughed, with the government initially paying 80% of salaries.

However, changes are coming to the scheme, with Mr Sunak stating it will be “wound down” from October with companies weaned off it.

In Germany, the government’s equivalent coronavirus scheme has been extended to last 24 months.

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And a UK think tank has suggested the Conservative government should be looking to do the same, warning three million jobs could become “unsustainable” in…

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