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Economic Development

Major change to furlough scheme at end of month - as 400,000 have used it in Wales so far

In total more than 500,000 have been supported by the Coronavirus Job Retention Scheme or self employment grant

Chancellor Rishi Sunak(Image: PA Wire/PA Images)

New statistics show more than 400,000 workers been placed on furlough in Wales - with a big change in the scheme due next month.

The Coronavirus Job Retention Scheme and the Self Employment Income Support Scheme were announced by the Chancellor at the start of the coronavirus pandemic in March.

So far 400,800 people in Wales have benefitted from the furlough scheme while 110,000 have made claims for the SEISS grant.

The Coronavirus Job Retention Scheme will close on 31 October 2020 but a major change will come in from September 1.

Initially 海角视频 Government paid 80% of wages up to a cap of £2,500 as well as employer National Insurance Contributions(NICs) and pension contributions.

In August businesses started to pay NICs and pensions contributions.

For September, the government will pay 70% of wages up to a cap of £2,187.50 for the hours the employee is on furlough. Employers will pay NICs and pension contributions and top up employees’ wages to ensure they receive 80% of their wages up to a cap of £2,500.

In October, the government will pay 60% of wages up to a cap of £1,875 for the hours the employee is on furlough. Employers will pay NICs and pension contributions and top up employees’ wages to ensure they receive 80% of their wages up to a cap of £2,500.