An email sent to staff by the board on Wednesday confirmed the move as the industry continues its Covid recovery.

Banded pay cuts were introduced in May with the lowest paid staff seeing 15% salary reductions rising to 50% for those earning more than £150,000 a year.

The email said: “The Covid-19 pandemic has had an unparalleled impact on our daily lives, our industry and the worldwide economy.

“Over the past few months, you have stood by the McLaren business, helping each other both professionally and personally which has been a great testament to you all.

“Your unsurpassed commitment has been praised by our customers, professional teams and wholly supported and appreciated by our supply chain partners.

“The dedication of our site teams during this period has been exceptional and unprecedented, from evolving social distance work practices to ensuring our projects remain operational and safe.

“Our SHEQ team swiftly developed and implemented business-wide guidance in accordance with government regulations. In addition to this, our office-based teams all ensured critical support was maintained at all times.

“The commitment of our Pre-construction, HR,  Estimating, Accounts and IT teams has also been a shining example of our “can do culture”, for which we cannot thank you enough.

“Your combined efforts have provided us with a solid platform from which we can continue to build the business and move forward.

“We are very pleased to announce due to everyone’s tremendous efforts, that salaries and benefits will be returning to their Pre COVID-19 levels from the 1st August.

“Once again, a sincere thank you to you and your families, and we trust that you will have an enjoyable summer.”