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