The Chancellor of the Exchequer, Rishi Sunak MP, has today expanded the Job Support Scheme (JSS), to protect jobs and support businesses required to close their doors as a result of coronavirus restrictions.
The key announcements are summarised below:
- Employees who work for UK businesses, which have been asked to shut down by the Government, will receive 69 per cent of their salary up to a maximum of £2,100 a month. The JSS will begin on 1 November 2020 and will be available for six months. Until November, businesses can continue to use the furlough scheme. Employers will not be required to contribute towards wages and only asked to cover National Insurance contributions and pension contributions.
- The Government is also increasing the cash grants to businesses in England shut in local lockdowns. These grants will be linked to rateable values, with up to £3,000 per month payable every two weeks, compared to the up to £1,500 every three weeks which was available previously.
- The devolved administrations in Scotland, Wales and Northern Ireland will benefit from a £1.3 billion increase to their guaranteed funding for 2020-21
A Government press release on the Chancellor’s statement can be viewed here.