Furlough, CBILS and BBLS extended!
Just as we head into Christmas, Rushi Sunak has done it again! The Chancellor has announced today that the Treasury is extending the Furlough scheme and government backed loans.
The Furlough scheme is now extended to the end of April 2021.
CBILS and Bounce Back loans have been extended to the end of March 2021.
These announcements have been made alongside the announcement of the date for the Spring Budget, set to be the 3rd March 2021.
The Chancellor said the extension to the Furlough scheme offers ‘certainty for millions of jobs and businesses’.
He went on to say ‘Our package of support for businesses and workers continues to be one of the most generous and effective in the world – helping our economy to recover and protecting livelihoods across the country. We know the premium businesses place on certainty, so it is right that we enable them to plan ahead regardless of the path the virus takes, which is why we’re providing certainty and clarity by extending this support.’
These announcements weren’t something we saw coming, but hopefully they will help businesses enjoy a little more security this Christmas.