Job Retention Scheme Retained Across The UK

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Job Retention Scheme Retained Across The UK
The Job Retention Scheme retained across the UK, while England enters a new month of […]

Job Retention Scheme Retained Across The UK

The Job Retention Scheme retained across the UK, while England enters a new month of lockdown. But it’s not clear it will also be there if Scotland needs to deploy it at a time when England does not.

Businesses welcome Job Retention Scheme Retained across the UK, but there’s dismay in some sectors about the implications for their costs.

Furlough has supported 9.6m people to stay in jobs, though 9% of them went on to lose their jobs. That goes for 19% of young people.

In mid-summer and many times after that, we were told Halloween would be the end of it, for sure. But less than five hours from the end of October, the prime minister announced that it goes on, at least to 2 December.

That’s with the announcement that England is going back into lockdown. UK Retains Job Retention Scheme as it was in August.

The government pays 80% of normal pay for those on furlough, and employers pay about 5% of their total pay bill in National Insurance and pension contributions. Plus employers can take furloughed workers back part-time. So that’s more generous than September or October.

Some important details: neither the employer nor the employee needs to have previously used the furlough scheme. That’s important for many people who have shifted jobs in recent months, and for new firms. To qualify, you have to have been on the payroll and registered for PAYE tax before midnight on Friday 30 November.

You can be furloughed for as little as seven days. There has previously been a three-week minimum.

Half a million closures

We were due for a new system that required people in firms that did not have to close to work at least 20% of their normal hours. In that case the UK government would pay out nearly half of normal earnings. That system required two big revisions, and even after that, it is not being introduced, at least until early December.

Meanwhile, UK Retains Job Retention Scheme and furlough applies across the UK, though the need for it is lower in Scotland, for now. There’s a lot less that has to close.

But now that England requires lockdown, there is enough money – borrowed money. That’s clearly going to rankle and doesn’t sound like a partnership of equals.

Source: BBC