Today the Government announced that it would extend the Job Retention Scheme (JRS) to the end of April 2021, with the Government continuing to pay 80 per cent towards the wages of employees. The scheme was previously due to run until the end of March 2021.

The Government also announced it intends to present a Budget on 3 March 2021, meaning there will be more than 45 days between the announcement of successor measures to those currently in place, and the end of the JRS.

It has also extended the deadline for applications to emergency loan schemes until 31 March 2021. 

ADS Chief Executive Paul Everitt said:

“Our industries will welcome extensions to the Job Retention Scheme and the deadline for applications to emergency loan schemes.

“The UK economy faces a long road to recovery and sectors like aerospace are among the worst affected.

"Supply chain companies are being threatened by existential challenges and will need additional support to ensure they can survive until the pace of recovery quickens as restrictions are eased in the UK and internationally.”