The furlough scheme has worked well, protecting jobs and livelihoods. In response to the announcement of the National Lockdown which began today, 5th November, and will last until the 2nd of December the Government will be extending the scheme. Aware of the added problems which may occur over the winter period the Chancellor has decided the scheme should go on until the end of March 2021.
This comes alongside the increase in the next self-employed grant which will increase from 55% to 80% of trading profit. This is an extra £7.3 billion of support to the self-employed through November to January with a further grant to follow to cover February to April. This is on top of the £13.7 billion already provided.
MP for Keighley and Ilkley Robbie Moore said:
“Voting to lock the country down for a second time was the most bitter experience of my parliamentary career. We have fought hard for our freedoms in this country and the Conservative Party is the party that has protected individual liberties for centuries. In the end I had to take the tough decision and do what is right to save lives here in Keighley and Ilkley and across the UK.
"The government made this decision easier to bear with the right support to save jobs and livelihoods. The Furlough Scheme will once again see employees receive 80% of their usual salary for hours not worked, up to the value of £2,500. This will protect jobs throughout the period of Covid and beyond as companies in our area should be able to survive.
"I am also pleased to see that the loan schemes will be extended until the end of January 2021, this includes the Bounce Back Loans scheme, Coronavirus Business Interruption Loan Scheme, Future Fund and the Coronavirus Large Business Interruption Loan Scheme. This will give businesses an extra 2 months to make an application. For those that find themselves facing new challenges and who have already made an application for the Bounce Back Loan but borrowed less than their maximum, they can now apply to top-up their existing loan.
"Keighley and Ilkley businesses have worked hard to keep going throughout this crisis and I would like to thank the local people for the support they have given them. Going forward that local support will be even more important.”
