Government announces Jobs Support Scheme as coronavirus measures "evolve"

The government has today announced a new support scheme that will be put in place as the UK furlough programme comes to an end.

Rishi Sunak, Chancellor of the Exchequer, has revealed that the Jobs Support Scheme will replace the furlough scheme when it finishes at the end of next month (October 31).

This is part of the Chancellor’s ‘winter economy plan’, which comes after the Prime Minister introduced new social distancing measures that are expected to last for six months.

The Jobs Support Scheme will see the government and firms work together to pay workers two thirds of their usual pay, provided that they work at least a third of their usual hours.

Further measures announced will see the extension of the Self Employment Income Support Scheme, and a 15 per cent VAT cut for hospitality and tourism sectors.

The Chancellor commented: “The resurgence of the virus, and the measures we need to take in response, pose a threat to our fragile economic recovery.

“Our approach to the next phase of support must be different to that which came before.

“The primary goal of our economic policy remains unchanged - to support people’s jobs - but the way we achieve that must evolve.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.