Further Support Announced by The Chancellor
The Chancellor has made his statement setting out additional support to protect jobs and businesses in the coming months.
- A new grants scheme for businesses impacted by tier 2 restrictions, even if they are not legally closed. A grant to be provided to businesses in hospitality, leisure & accommodation which will be worth up to £2,100.00 for every month that Tier 2 restrictions apply. This is in addition to the grants of up to £3,000 available for businesses who have been legally required to close. The grant will also be retrospective, so businesses can backdate the claim to August, if they have been operating in areas with enhanced restrictions since then.
- In businesses legally required to close, as previously announced, employers will pay employees two thirds of their normal salary where they can’t work for a week or more; and the government will cover 100% of those costs.
- Self-employed grants are increasing from 20% to 40%, meaning the maximum grant will go up from £1,875 to £3,750. Grants are available for all self-employed people (all tiers) who have stopped trading or have a significant fall in trade, with two further payments to come.
- Under the Open Job Support Scheme, the Government will now pay at least 61.67% for hours not worked, this is an increase from 33% Employer contributions have been reduced from 33% to 5%, Employees now take home at least 73% of pay for working a new minimum 20% of hours.
For more details, please see the Government guidance https://www.gov.uk/government/news/plan-for-jobs-chancellor-increases-financial-support-for-businesses-and-workers
Also follow us for further updates on: