Chancellor Rishi Sunak is likely to, over the coming days, signal the future of the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme (SEISS).
Since it began the number of furloughed employees has risen to 8.4million, according to HM Treasury figures. With the total value of claims currently made (at the time of publication) sitting at £15billion.
The chancellor will likely set a required level of contribution from employers if they want to continue using the furlough scheme, for August 2020 onwards. Reports also suggest that new furlough applications from employers will no longer be accepted.
HMRC has revealed that more than £6.8bn has been claimed via 2.3million applications from those who are self-employed and unable to work. A decision on whether or not to extend the SEISS beyond May is still yet to be made, with a sudden halt to the grant still on the table.