Business leaders react to expansion of winter support schemes

Cornelia Mascio
Октября 24, 2020

United Kingdom chancellor Rishi Sunak has announced changes to the jobs and businesses financial support scheme.

To finish, Mr Sunak said: "This is our plan, a plan for jobs, for business, for the regions, for our economy, for the country".

Rishi Sunak responded to our calls by lowering employer contributions and the number of hours worked needed to qualify for the Job Support Scheme.

HM Treasury noted: "If someone was being paid £587 for their unworked hours, the Government would be contributing £543 and their employer £44".

Employers will continue to receive the £1,000 Job Retention Bonus.

The Job Support Scheme, originally designed for a reopening economy, will now support many more businesses that are seeing a substantial fall in demand as a result of new or ongoing restrictions. "They deserve to be part of this package of new support but have once again been ignored".

Chancellor Sunak confirmed additional funding to support cash grants of up to £2,100 per month primarily for businesses in the hospitality, accommodation and leisure sector which may be adversely impacted by the restrictions in high-alert level areas (Tiers 2 and 3).

"Business grants, including those being applied retrospectively to those in Tier 3 areas will be a welcome relief to thousands of businesses who have been left wondering how they'll survive in the weeks and months ahead".

"I know that the introduction of further restrictions has left many people anxious for themselves, their families and communities".

Events businesses are advised to check with their Local Authorities.

The Institute for Government (IFS) have released a report which claims that the current Job Support Scheme will undoubtedly waste tax payers' money by continuing to support approximately one million inviable jobs.

Self-employed workers will receive two taxable SEISS (Self-Employment Income Support Scheme) grants which will be paid in two lump sums to each cover three months.

The maximum grant for self-employed will increase from £1,875 to £3,750. The impact of Tier 2 on hospitality businesses, yet the lack of support available, was clear to see.

An additional 5% top up amount will also be given to local authorities to support businesses within these areas but may not fit into the above categories. They will decide which businesses are eligible for grant funding.

The three measures will "protect more jobs and support more businesses through the hard winter months ahead".

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