CHANCELLOR Rishi Sunak has announced the Job Support Scheme which will support Redditch residents from November 1.
Running for six months, it will replace the ‘furlough scheme’ and is aimed at saving jobs and supporting businesses following the introduction of more stringent Covid-19 measures this week.
Employees must work at least a third of their normal hours, paid by their employer, to be eligible for the top up.
For the two thirds of the other hours not worked, the government will pay a third – so 22 per cent of their overall wages – and the employer will have to pay the other third.
In summary, it means employers will have to fork out 55 per cent of the total wages and the government will top it up to 77 per cent.
The amount paid by the government will be capped at £697.92 per month.
It’s open to all small and medium sized businesses, even if they didn’t use the furlough scheme beforehand.
Large businesses will have to show that their revenue has fallen to be eligible.
