Announcements from the Chancellor this afternoon

1. Job Support Scheme: introduced from 1 November to protect viable jobs in businesses who are facing lower demand over the winter months due to coronavirus. Will run for six monthsEmployers will continue to pay the wages of staff for the hours they work – but for the hours not worked, the government and the employer will each pay one third of their equivalent salary.This means employees who can only go back to work on shorter time will still be paid two thirds of the hours for those hours they can’t workIn order to support only viable jobs, employees must be working at least 33% of their usual hours. The […]

UK Chancellor anounces new Job Support Scheme

New Jobs Support Scheme will be launched for employees working at least a third of their normal hours, who are being paid for that as normal. The government and employers will jointly increase their wages to cover two-thirds of their lost pay and the employee will keep their jobAll small and medium-sized businesses are eligible, but larger businesses must show their turnover has fallen during the crisis. Employers can use it even if they have not previous used the furlough scheme it replacesIt will run for six months from NovemberThe existing grant for self-employed people is being extended on similar terms to the Jobs Support SchemeA “pay as you grow” […]