Rishi Sunak to announce new 'flexible furlough' scheme in speech today
24 September 2020, 08:48
Chancellor Rishi Sunak is set to address the House of Commons later today with a 'winter economy plan'.
Following news of tighter lockdown restrictions from Prime Minister Boris Johnson earlier this week, Rishi Sunak is set to announce plans to protect jobs through the winter.
The Chancellor is expected to reveal an emergency job scheme which could replace the furlough scheme, set to expire next month.
According to The Sun, Rishi will be announcing a new 'flexible furlough' in order to help protect industries hit hardest by new lockdown measures.
The publication understands that the new scheme will allow firms to reduce employees' working hours – while keeping their jobs – and the Government will pay part of the wages.
This comes after Boris Johnson said in a comment that Rishi was working on "creative and imaginative" solutions to the job crisis.
The hospitality sector will be hardest hit, it is believed, after Boris Johnson announced a 10PM curfew to pubs, restaurants and bars earlier in the week.
From Thursday, many establishments in the hospitality sector will have to close their doors at 10PM.
Chancellor Rishi will also reportedly announce a Government jobs scheme that's sees thousands of people out of work retrained.
A Treasury source said: "Giving people reassurance and businesses the help they need to get through this is uppermost in his mind.”
Rishi Sunak is expected to address the House of Commons around 11:45am today.