What is the maximum monthly wage the government will cover per furloughed employee?

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Maximum Monthly Wage Covered Per Furloughed Employee

The British government will cover 80 per cent of an employee's wages, up to a maximum of £2,500 per month, for those temporarily laid off as part of a coronavirus support package. This measure is intended to help businesses retain their workforce during the enforced lockdown. The scheme is expected to be extensively utilised by companies facing significant economic disruption.
High Proportion of Businesses Anticipate Furloughing Staff

A survey conducted by the British Chambers of Commerce (BCC) between March 25 and 27 revealed that 44 per cent of over 600 businesses surveyed anticipate furloughing at least half of their workforce within a week. Furthermore, 32 per cent of these businesses expect to furlough between three-quarters and their entire workforce. This widespread expectation underscores the significant impact of the lockdown on business operations and employment.
Government Aims to Prevent Permanent Layoffs

The wage support scheme, with its unlimited funding as stated by finance minister Rishi Sunak, is designed to prevent firms from making permanent layoffs. By offering financial assistance for wages, the government aims to mitigate the immediate economic shock and facilitate a quicker recovery once restrictions are lifted. This approach seeks to preserve jobs and the overall productive capacity of the economy.
Urgency for Fund Disbursement

While the scale of government support is acknowledged as welcome, the Director General of the BCC, Adam Marshall, has stressed the urgency of disbursing these promised funds to struggling companies. Marshall highlighted that the majority of firms cannot afford to wait for weeks or months for assistance to arrive, indicating a critical need for swift implementation of the support measures. This is further evidenced by BCC data showing that just under a fifth of firms have less than a month's cash in reserve.

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What is the maximum monthly wage the government will cover per furloughed employee?

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