Chancellor announces further support for business
Chancellor Rishi Sunak announced a raft of further government plans to support jobs and businesses over the coming months, as part of a Winter Economy Plan.
Significantly, a new Job Support Scheme (JSS) will be introduced from 1 November, replacing the current furlough Scheme. The JSS Scheme will run for six months (up to April 2021) and the level of grant available will be capped at £697.92 per month. Claims (in arrears of wages paid) can be made online from December.
All Small and Medium-Sized Enterprises (SMEs) will be eligible, and large businesses will be required to demonstrate that the business has been adversely affected by COVID-19.
Fuller details behind the new Job Support Scheme are shown in a government factsheet. This includes a simple illustrative example for an employee on reduced hours.
The JSS is designed to sit alongside the Jobs Retention Bonus (see the ‘Employment and Skills’ section of the ECA Business Recovery page) and businesses may seek to access both schemes.