Welsh Secretary welcomes Chancellor’s further COVID-19 support
The Chancellor has extended the Coronavirus Job Retention Scheme until the end of March 2021.
Commenting on the Chancellor’s announcement on 5 November that the furlough scheme would be continued into Spring 2021 and support for the self-employed extended, Secretary of State for Wales Simon Hart said:
We have supported more than half a million livelihoods in Wales so far during the pandemic and the package announced today provides people and businesses with the certainty they need in the months ahead.
As well as tackling the coronavirus, the UK Government’s priority has been to protect jobs across Wales and the rest of the UK. We will also continue to provide an unprecedented level of financial support for the devolved administration in Wales with an extra £5 billion this year now guaranteed to ensure it can plan its response in the coming months.
We are tackling the pandemic as one United Kingdom and workers, families and businesses across Wales will continue to have full access to our unprecedented UK-wide financial support.
Background:
- The furlough scheme will now be extended until the end of March 2021
- The next self-employed income support grant will also increase from 55% to 80% of average profits – up to £7,500
- UK Government has given the Welsh Government an additional £5 billion to cope with the pressures of the pandemic and we are protecting more than 68,000 jobs in Wales through our furlough scheme, down from a peak of 378,400 in June.
- More than 48,000 loans worth more than £1.3 billion have been offered under the Bounce Back Loans Scheme
- More than 1,600 loans worth £373 million have been offered under the Coronavirus Business Interruption Loan Scheme.
- 82,000 people in Wales have benefitted from the Self Employment Income Support Scheme.