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The Coronavirus Job Retention Scheme (CJRS) was a furlough scheme announced by Rishi Sunak, the Chancellor of the Exchequer, on 20 March 2020, during the COVID-19 pandemic in the United Kingdom. [1] The scheme was announced as providing grants to employers to pay 80% of a staff wage and employment costs each month, up to a total of £2,500 per ...
Age UK, a charity for older people in the UK which campaigns for the triple lock, reiterated its commitment to the usual system but believed this change was “a price worth paying” as long as ...
Economists have warned that there likely to be a rise in unemployment due to new redundancies when the support ends.
A furlough (/ ˈ f ɜːr l oʊ /; from Dutch: verlof, "leave of absence") is a temporary cessation of paid employment that is intended to address the special needs of a company or employer; these needs may be due to economic conditions that affect a specific employer, or to those prevailing in society as a whole. Furloughs may be short-term or ...
The government announced the Bounce Back Loan Scheme (BBLS) for small- and medium-sized businesses on 27 April 2020. The scheme offered loans of up to £50,000 and was interest free for the first year, after which an interest rate of 2.5% a year was applied, with the loan to be repaid within ten [a] years. Businesses which had an existing CBILS ...
The Public Accounts Committee report on Covid employment support said HMRC was too slow to tackle problems in the design of the schemes. Efforts to recoup billions in wrongly claimed furlough cash ...
The Office for National Statistics said payrolled workers jumped by 160,000 between September and October to 29.3 million.
Chancellor Rishi Sunak extends the UK's furlough scheme until October, with employees continuing to receive 80% of their monthly wages up to £2,500. A quarter of the workforce, some 7.5 million people, are now covered by the scheme, costing £14bn a month.