Nigel Holland
Nigel Holland

” With Government support coming to an end and the generous furlough scheme about to end the Government has decided to introduce a series of further measures to help prop up the economy.

The Government will step in and pay one third of lost hours provided the worker does at least one-third of normal hours.

The 5% VAT for the hospitality and tourism sector continues until 31 March which will help that sector.

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Firms who took the Government loans have more time to pay back the loan. This helps businesses in cashflow difficulties.”

Nigel Holland

Summary from the BBC

  1. Chancellor Rishi Sunak announces a new Job Support Scheme, starting in November
  2. It replaces the ‘furlough scheme’ and means the government will pay part of workers’ wages who have lost hours
  3. The worker must do at least one-third of normal hours, and the government will pay one-third of the lost hours
  4. The cut in VAT to 5% for the hospitality and tourism sector will be extended until 31 March
  5. Firms that took government loans during the crisis will have longer to pay them back
  6. And companies that deferred their VAT bill will no longer have to pay a lump sum in March
  7. About 2,500 students at a Swiss hospitality school have been placed in quarantine after a major outbreak following private parties
  8. Canada has announced an ambitious plan to create jobs and invest billions on healthcare, housing and childcare following the fallout from Covid
  9. Face masks are no longer mandatory on public transport in most of New Zealand as infections continue to drop