News from The Estates Office
Business News #25
The Coronavirus Job Retention Scheme has been extended until October, however the Chancellor has stated the government will ask companies to start sharing the cost from August. The scheme pays 80% of the wages for workers furloughed due to COVID-19, up to £2,500 a month. Chancellor Rishi Sunak said that from August, the scheme would continue for all sectors and regions, but with greater flexibility to support the transition back to work, including bringing back workers on a part-time basis.
The Scheme currently costs the UK Government £14bn a month, covering 7.5 million people, a quarter of the nation’s workforce. The treasury will attempt to reduce the cost to the taxpayer of the subsidy scheme, although the full details are still to be worked out. Some sources have predicted that the Treasury will still be paying more than half the costs between August and October.
Vacancies from The Estates Office
Business News #25
The Coronavirus Job Retention Scheme has been extended until October, however the Chancellor has stated the government will ask companies to start sharing the cost from August. The scheme pays 80% of the wages for workers furloughed due to COVID-19, up to £2,500 a month. Chancellor Rishi Sunak said that from August, the scheme would continue for all sectors and regions, but with greater flexibility to support the transition back to work, including bringing back workers on a part-time basis.
The Scheme currently costs the UK Government £14bn a month, covering 7.5 million people, a quarter of the nation’s workforce. The treasury will attempt to reduce the cost to the taxpayer of the subsidy scheme, although the full details are still to be worked out. Some sources have predicted that the Treasury will still be paying more than half the costs between August and October.
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