IoD responds to furlough scheme extension

Responding to the Chancellor’s announcement that the furlough scheme (CJRS) has been extended until the end of June, Edwin Morgan, Director of Policy at the Institute of Directors, said:

“This move will be welcomed by employers across the country, and comes just in the nick of time.

“The furlough scheme is a lynchpin of the Government’s economic support, and has brought relief to many businesses and employees. When the portal opens on Monday, it’s crucial the system is as straightforward as possible. We’ll be working to ensure as many firms can access the support as need it.

“With the lockdown extended, it’s now even more important that we look to fix any problems in the system. At present, countless directors of small companies are hamstrung if they need to furlough themselves, receiving little income support and barred from doing the things that could see their organisation and staff through the crisis. This needs sorting out quickly.

“Looking further ahead, when restrictions begin to lift, Government may need to explore a tapered approach as the economy returns to more normal circumstances.”