The Authorities has promised to proceed paying 80 per cent in the direction of wages till the tip of April 2021.
The scheme was initially because of expire on the finish of March however the announcement suggests the Treasury believes the economic system will nonetheless be struggling to deal with the impression of the pandemic.
The Chancellor stated it should give companies and staff throughout the UK certainty into the New Yr.
Mr Sunak stated: “Our bundle of assist for companies and employees continues to be some of the beneficiant and efficient on the planet – serving to our economic system to get well and defending livelihoods throughout the nation.
“We all know the premium companies place on certainty, so it’s proper that we allow companies to plan forward whatever the path the virus takes, which is why we’re offering certainty and readability by extending this assist, in addition to implementing our Plan for Jobs.”
The Chancellor confirmed that the subsequent Price range might be on the March 3 when he’ll set out the subsequent section of his plan to “sort out the virus and defend jobs”.
The Treasury additionally confirmed that struggling companies can have till the tip of March to entry the government-guaranteed Covid-19 enterprise mortgage schemes.