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Post furlough funding

Chancellor Rishi Sunak unveiled a wave of new measures the government hopes will protect jobs as the UK continues its economic recovery.

A new Jobs Support Scheme, an extension to the cut in VAT for some sectors, and support for businesses and workers, were unveiled in the House of Commons yesterday.

The most noteworthy new measure will see the government top up the wages of workers forced to cut their hours due to the pandemic – which will effectively replace the furlough scheme from 1 November. Government will subsidise the wages of people working at least a third of their normal working hours.  

Click https://www.gov.uk/government/publications/job-support-scheme for further details on the scheme.

The Chancellor told MPs: “The furlough was the right policy at the time we introduced it, it provided immediate short-term protection for millions of jobs through a period of acute crisis.

“But as the economy re-opens it is fundamentally wrong to hold people in jobs that only exist inside the furlough.”

Also extended was the self-employment income support scheme and 15% VAT cut for the hospitality and tourism sectors and help for businesses in repaying government-backed loans.

 

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