Chancellor Rishi Sunak unveils extra support measures for businesses
Fri 23 Oct 20
The Chancellor has today announced that the UK Government will significantly increase its winter support schemes to ensure livelihoods and jobs across the UK continue to be protected in the difficult months to come.
Support through the Job Support Scheme for open businesses has been increased to:
- reduce the minimum hours requirement to 20%;
- reduce the employer contribution for unworked hours to 5%; and so that
- the UK Government will provide up to 61.67% of wages for hours not worked, up to £1541.75 per month (more than doubling the maximum payment of £697.92 under the previous rules).
- the Job Support Scheme Closed for businesses legally required to close remains unchanged
Further details can be found here. Full guidance will be published in the coming weeks.
Support through the Self-Employed Income Support Scheme has been increased to:
- increase the amount of profits covered by the two forthcoming self-employed grants from 20 per cent to 40 per cent, meaning the maximum grant will increase from £1,875 to £3,750.
Further details can be found here.
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