Inverclyde Chamber and the wider Scottish Chambers Network has welcomed the UK Chancellor Rishi Sunak’s announcement today to extend the Coronavirus Jobs Retention Scheme to protect jobs and livelihoods.

Dr Liz Cameron, Chief Executive of the Scottish Chambers of Commerce said:

“This is great news. Businesses and employees across Scotland will be extremely relieved by the Chancellor’s decision to extend the furlough scheme to October rather than face a cliff edge with its originally planned withdrawal at the end of June.

“This direct employee financial support has been a lifeline which has enabled many jobs to be retained rather than businesses having to face making massive redundancies. As we begin to consider a ‘return to workplace’ plan to restart the economy, flexibility in these schemes will be paramount to protecting jobs until businesses are able to trade normally once more.

“We look forward to seeing further detail on the proposed employers’ contribution. We would ask that this takes into consideration, particularly for SMEs, their ability to pay contributions depending on how quickly their income recovers as lock down eases. Trading conditions will differ depending on location and sector and the flexibility of the furlough scheme must take these factors on board.

“We will continue our engagement with the Treasury to make sure business support remains flexible and accessible for Scottish businesses.”