Rishi Sunak announces new jobs support schedule to help people in work
Author: Wardah Sempa | Thursday 24th September 2020
Rishi Sunak has announced new measures to protect millions of jobs after ministers insisted more needs to be done to support the economy in the wake of the Covid-19 crisis. With the furlough work scheme due to finish at the end of October, the Chancellor unveiled details of a new job support scheme, which would see the Government “directly support” the wages of people in viable jobs working at least a third of their normal hours.
He also announced a “pay as you grow” scheme to allow firms to repay bounce back loans over a period of up to 10 years and said he would keep VAT at 5 per cent for hospitality and tourism until March 31 2021.
"The government will support the wages of people in work"— BBC Politics (@BBCPolitics) September 24, 2020
Chancellor Rishi Sunak announce new Jobs Support Scheme to help employers keep people in work on shorter hours, rather than making workers redundanthttps://t.co/nFGFjyaQTP pic.twitter.com/qd2HIpIlac
This is a v big change from furlough. Less generous. Only open to those who are working a third of normal hours. Understandable given need to adapt as economy changes. Can't pay all wages forever. But a lot on furlough now likely to lose their job. https://t.co/lFBEgKtlnP— Paul Johnson (@PJTheEconomist) September 24, 2020