Chancellor expands furlough scheme for businesses

Starts beginning of November

Adam Saville
clock • 3 min read

Employer contribution level reduced and number of required working hours also cut

Chancellor Rishi Sunak has today (22 October) announced a new support package for businesses to replace the furlough scheme from the start of November. It will reduce the level of employer contribution to 5% of a workers' salary - down from the previous level of 33%. The new measures, outlined just 10 days before the job support scheme (JSS) was due to come into effect, will also cut the number of hours an employee must work before a company can receive support, reducing it to 20% from 33%. Mr Sunak said that if someone was being paid £587 of their unworked hours, the government wo...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

The COVER Review: Regulatory updates, adviser reports and new product lines

The COVER Review: Regulatory updates, adviser reports and new product lines

Week commencing 23 February 2026

COVER
clock 27 February 2026 • 1 min read
FCA publishes regulatory priorities for insurance

FCA publishes regulatory priorities for insurance

86% of consumers have at least one general insurance or pure protection product

Cameron Roberts
clock 24 February 2026 • 2 min read
IPT receipts hit £7.7bn in January 2026

IPT receipts hit £7.7bn in January 2026

£872m collected last month

Jaskeet Briah
clock 20 February 2026 • 2 min read