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Rishi Sunak unveils emergency jobs scheme

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Chancellor Rishi Sunak has announced a new Job Support Scheme, starting in November. The new scheme will replace the Furlough Scheme, meaning that the Government will pay a portion of workers wages.

The new scheme begins on 1 November and will cost the Government an estimated £300m a month. Companies who use it can also still claim the Job Retention Bonus, where the Government pays £1,000 for every furloughed employee who comes back to work until at least the end of January.

How will it work?

  • Under the scheme, the Government will subsidise the pay of employees who are working fewer than regular hours due to lower demand
  • It will apply to staff who can work at least a third of their usual hours
  • Employers will pay staff for the hours they do work
  • For the hours employees can't work, the Government and the employer will each cover one-third of the lost pay
  • The grant will be capped at £697.92 per month
  • All small and medium-sized businesses will be eligible for the scheme
  • Larger business will be eligible if their turnover has fallen during the crisis
  • It will be open to employers across the UK even if they have not previously used the furlough scheme
  • The scheme will run for six months starting in November