Posted on 25th September, 2020

Winter Economy Plan- Government’s Plan to Protect Jobs

Government sets out a plan on additional support for businesses and employees. The new package is to include a number of measures that will continue to protect jobs and businesses as we all fight the spread of the virus. Government support includes a new Jobs Support Scheme to protect millions of returning workers. 

The Jobs Support Scheme will roll out on the 1 November to protect jobs which could be at risk due to businesses working with skeleton staff due to coronavirus. The scheme is to run for 6 months and will include government’s contributions towards employees’ wages while the employees work reduced hours.

  • To be eligible, employees will have be in a ‘viable’ job meaning working at least 33% of their usual hours. Employers will continue paying for the hours their employees work. For the hours not worked- the government and the employer will each pay one third of their equivalent salary.
  • The level of support will be capped at £697.92 per month. The scheme will be open to all businesses across the UK and could be used by businesses who previously decided not to furlough their staff. The scheme is designed to sit alongside the Job Retention Bonus and could be worth over 60% of average wages of workers who have been furloughed- and are kept on until the start of February 2021.
  • Businesses will be able to benefit from both schemes in order to protect jobs while we fight the spread of coronavirus in the UK. In addition, the government will continue to support self-employed individuals by extending the Self Employment Income Support Scheme Grant. There will also be additional, second grant available for a number of self-employed to cover the period from January 2021 to the end of April.

To find out more about the Jobs Support Scheme and other measures discussed by the Chancellor Rishi Sunak on Wednesday 24 September, visit https://www.gov.uk/government/news/chancellor-outlines-winter-economy-plan

Source: www.gov.uk/government

 

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