United Kingdom finance minister outlines Winter Economy Plan


Unlike "short-time working" schemes in other countries, where the employer pays for the reduced hours that their staff work and the state tops this up, under the new Job Support Scheme the employer will pay both for the hours that people work and some of those that they don't.

"In relation to the job support scheme, I have always been clear that to have ended the furlough and the self-employed scheme without putting any UK-wide support in its place would have been disastrous for the NI economy". However, large businesses have to prove that their turnover has dropped during the coronavirus pandemic period to access the scheme.

When businesses are already struggling hugely due to the effects of the ongoing pandemic, it is highly unlikely that they will want to pay workers for hours they have not actually worked. Government and employers will collectively bear the cost of another one-third of the lost pay of their staff.

The primary goal of our economic policy remains unchanged - to support people's jobs - but the way we achieve that must evolve.

But the Resolution Foundation said the fact firms had to pay employees for hours not worked meant many would have "little or no incentive" to use it. No business taking up pay as you grow will see their credit rating affected as a result. In total, someone on the scheme will receive 77% of their total pay, according to The Treasury.

The government will offer similar support for the self-employed.

Nearly 1.3 million companies have borrowed more than £38 billion through the bounce back loan scheme since it launched on May 4, giving some a vital lifeline as business dried up during the pandemic.

The jobs support scheme would be based on three main principals - namely to secure viable jobs, provide targeted help to firms who require it the most, and assist all businesses, even if they had not applied for the furlough scheme earlier.

Staff can not be made redundant or put on notice of redundancy during the period within which their employer is claiming the grant for that employee.

"As the Chancellor has said, it would be fundamentally wrong to hold people in jobs that only exist inside the furlough".

Mitchell Marsh ruled out of entire IPL 2020 due to ankle injury
The 28-year-old Barbadian could be in line to play Sunrisers next match against Kolkata Knight Riders on Saturday (September 26). Bengaluru holds a special place for Finch because it was there, he revealed, that he had proposed to his wife a few years back.

However, Mr Sunak said the new scheme would "support only viable jobs" - but he declined to comment on what defines that.

She said: "The lack of support will mean the loss of vital skills for industries like tourism which will rebound, but are facing into one of the worst winter periods we have ever seen".

The resurgence of the virus, and the measures we need to take in response, pose a threat to our fragile economic recovery...

About two million employees are now not working at all but are being covered by the United Kingdom furlough programme.

While a non-viable job could include those in the theatre industry, live sports or working in a nightclub, all of which have been forced to remain closed.

The Sun has spoken to part-time theatre usher Jade Fox, 24, who's been put on furlough since coronavirus hit the UK.

Together- with the jobs retention bonus, the kickstart scheme for young people, tens of billions of pounds of job creation schemes, new investment in training and apprenticeships- we are protecting millions of jobs and businesses.

He added: "These measures will save a lot of jobs, and people can feel reassured that when the going gets tough this Government is here to help them".

Conor Murphy welcomed the fact there is now a plan to support workers when furlough ends on 31 October but said he still has "concerns" about it.

"The chancellor's new scheme should therefore provide some respite - after all, it's crucial that individuals and families who don't want to use public transport during this hard time, but still need to get out for the school run, shopping and supporting family members can have access to professional services to stay safe on the roads", he stressed. Under the scheme, firms are being allowed more time to repay their loans.