Uk news Rishi to rescue with billions for wage subsidies to replace furlough London news

MetiNews.Com - Rishi Sunak urged the country to “live without fear” today as he unveiled a new part-time Jobs Support Scheme and other measures designed to prop up the economy until a coronavirus vaccine is ready. The Chancellor announced a multi-billion pound package of help to replace the costly furlough scheme, allowing millions to go part time while keeping around four-fifths or more of

Uk news Rishi to rescue with billions for wage subsidies to replace furlough London news

MetiNews.Com - Rishi Sunak urged the country to “live without fear” today as he unveiled a new part-time Jobs Support Scheme and other measures designed to prop up the economy until a coronavirus vaccine is ready. The Chancellor announced a multi-billion pound package of help to replace the costly furlough scheme, allowing millions to go part time while keeping around four-fifths or more of

Uk news  Rishi to rescue with billions for wage subsidies to replace furlough London news
24 September 2020 - 12:40

Breaking News ! ES News email The latest headlines in your inbox twice a day Monday - Friday plus breaking news updates Enter your email address Continue Please enter an email address Email address is invalid Fill out this field Email address is invalid You already have an account. Please log in. Register with your social account or click here to log in I would like to receive lunchtime headlines Monday - Friday plus breaking news alerts, by email Update newsletter preferences Rishi Sunak urged the country to “live without fear” today as he unveiled a new part-time Jobs Support Scheme and other measures designed to prop up the economy until a coronavirus vaccine is ready. The Chancellor announced a multi-billion pound package of help to replace the costly furlough scheme, allowing millions to go part time while keeping around four-fifths or more of their earnings. But the battered hospitality sector said it was not enough to save restaurant and pub jobs – and Chancellor himself admitted that “we can’t save every job”. Mr Sunak’s plan included: The six-month Jobs Support Scheme, which guarantees that employees will keep around £8 in every £10 of their regular earnings - and more than 90 per cent in most cases. It is designed to apply only to “viable” jobs where employers are willing to bear more of the costs. An extra boost to the beleaguered hospitality and tourism sectors, by extending a VAT cut until the end of March. Emergency loan schemes for businesses hit by Covid-19 will be lengthened from six to 10 years – almost halving the monthly repayment.  Firms can also enjoy more flexibility including six-month payment holidays during lean times, in a plan the Chancellor dubbed “Pay as You Grow”. Furloughing, which has cost a staggering £40 billion so far, will be ended on October 31.  The Chancellor resisted calls to extend it or target wage subsidies at particular sectors of the economy. Read more Rishi Sunak reveals details of new emergency jobs scheme- LIVE He told the Commons: "Today's measures mark an important evolution in our approach. Our lives can no longer be put on hold.” Mr Sunak said the burden of defeating coronavirus was “a collective responsibility shared by all because the cost is paid by all". He added: “We must learn to live with it – and live without fear.” The Food and Drink Federation chief Ian Wright said the measures were welcome “but simply do not go far enough”. Keir Starmer responds to PM's coronavirus statement He went on: “The requirement for staff to be working part-time to be eligible for support will not be enough to sustain hospitality businesses and their food and drink manufacturing suppliers – the squeezed middle - through a difficult autumn and winter where pubs, bars, and restaurants will have significantly reduced custom.” Conservative MP Mel Stride, chairman of the Treasury Committee, said the "devil will be in the detail" but welcomed the plans "broadly and warmly". Dame Carolyn Fairbairn, of the Confederation of British Industry, hailed the “bold steps” and said they would “save hundreds of thousands of viable jobs this winter”. Coronavirus in numbers: UK coronavirus cases at 409,729 Mike Cherry, of the Federation of Small Businesses, called it “a swift and significant intervention”. Even TUC General Secretary Frances O’Grady said: “We are pleased the Chancellor has listened and done the right thing.” Some union leaders were more critical, saying the plans fell short. Labour’s shadow chancellor Anneliese Dodds said the lack of announcements on training people for new jobs in new industries after Covid-19 passes was “worrying”. Treasury officials said the cost of the JSS will depend on take-up, and likely to be £300 a month per million employees. Furloughing cost £1.

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Coronavirus: Weekend Round-up before New Rule of Six - In pictures 23 show all Coronavirus: Weekend Round-up before New Rule of Six - In pictures 1/23 People sing and dance as they watch a street performer in Leicester Square PA 2/23 General view of people enjoying a night out in Soho PA 3/23 People have been warned against having a "party weekend" PA 4/23 A former chief scientific adviser said the UK is "on the edge of losing control" of coronavirus PA 5/23 People sing and dance as they watch a street performer in Leicester Square PA 6/23 A group of friends enjoy the Autumn sunshine at a bar in Brighton PA 7/23 Beachgoers pack the beach in Brighton AFP via Getty Images 8/23 General view of people enjoying a night out in Soho PA 9/23 General view of people enjoying a night out in Soho PA 10/23 People sing and dance in Leicester Square REUTERS 11/23 People gather in the Soho area REUTERS 12/23 People dance in Leicester Square REUTERS 13/23 People sing and dance in Leicester Square REUTERS 14/23 People sing and dance in Leicester Square REUTERS 15/23 Beachgoers pack the beach in Brighton i AFP via Getty Images 16/23 People gather on Primrose Hill AFP via Getty Images 17/23 People gather in the food market in Camden AFP via Getty Images 18/23 People gather on Primrose Hill AFP via Getty Images 19/23 People drink and dine at restaurants and cafes on Northcote Road Getty Images 20/23 People gather on Primrose Hill AFP via Getty Images 21/23 People drink and dine at restaurants and cafes on Northcote Road Getty Images 22/23 People drink and dine at restaurants and cafes on Northcote Road Getty Images 23/23 People attend a busking show in Leicester AP 1/23 People sing and dance as they watch a street performer in Leicester Square PA 2/23 General view of people enjoying a night out in Soho PA 3/23 People have been warned against having a "party weekend" PA 4/23 A former chief scientific adviser said the UK is "on the edge of losing control" of coronavirus PA 5/23 People sing and dance as they watch a street performer in Leicester Square PA 6/23 A group of friends enjoy the Autumn sunshine at a bar in Brighton PA 7/23 Beachgoers pack the beach in Brighton AFP via Getty Images 8/23 General view of people enjoying a night out in Soho PA 9/23 General view of people enjoying a night out in Soho PA 10/23 People sing and dance in Leicester Square REUTERS 11/23 People gather in the Soho area REUTERS 12/23 People dance in Leicester Square REUTERS 13/23 People sing and dance in Leicester Square REUTERS 14/23 People sing and dance in Leicester Square REUTERS 15/23 Beachgoers pack the beach in Brighton i AFP via Getty Images 16/23 People gather on Primrose Hill AFP via Getty Images 17/23 People gather in the food market in Camden AFP via Getty Images 18/23 People gather on Primrose Hill AFP via Getty Images 19/23 People drink and dine at restaurants and cafes on Northcote Road Getty Images 20/23 People gather on Primrose Hill AFP via Getty Images 21/23 People drink and dine at restaurants and cafes on Northcote Road Getty Images 22/23 People drink and dine at restaurants and cafes on Northcote Road Getty Images 23/23 People attend a busking show in Leicester AP To qualify for the wage support, workers must be employed for at least a third of their usual hours each week. Their employer will pay them in full for the days they work, but for the “rest days” the cost will be split three ways: the Chancellor chips in a third, the employer another portion and the employee accepts a wage reduction for the final amount. If a waiter earns £400 for six days a week, but now faces being laid off, the scheme would allow them to reduce their hours to two days. The restaurant would pay £134 for the days worked, and an additional £88 towards the earnings would cover the “rest days”. Another £88 would come from the Government. The scheme benefits the waiter, who will take home about £310 despite working only two days. It is more expensive per week for the restaurant owner, who has to pay about £220 for two days of work — but cheaper than redundancy costs or paying for full time. Firms also have the benefit of keeping a trained staffer who is ready to work when the pandemic eases. The shift of costs on to firms is designed to exclude jobs that are no longer viable in the shattered economic landscape, thus targeting help where there is a genuine potential for future economic growth. Mr Sunak did not hide from the uncomfortable fact that many jobs currently furloughed will be lost. He said: “I’ve wanted to be honest with people from the start. And the honest truth is that we can’t save every job, and people wouldn’t believe me if I pretended otherwise. What we can do is to give people and businesses the best chance of getting through this, and today’s plan shows how we can do that — together.” Read more One in five UK adults say they're unlikely to get coronavirus vaccine Google Maps will now show coronavirus outbreaks in your area London hospitals trial drug that could reduce virus risk in diabetics The scheme is more generous for staff than a similar German policy which guarantees 80 per cent of earnings, because most people will receive more support. By allowing people to work a minimum of 33 per cent, it could save more jobs than under proposals from the Confederation of British Industry for a scheme with a minimum working week of 50 per cent. For Labour, Ms Dodds said: "We must ensure these measures are as effective as possible at keeping workers in employment, getting unemployed people back into work and keeping viable businesses in operation." Lord O’Donnell, the former Cabinet secretary, singled out Mr Sunak as a Cabinet minister who is delivering successfully where things “have gone wrong”. Ahead of a lecture tonight, in which he will lambast the Government’s performance, he told Times Radio: “We do have some strong political leaders in there, I mean the Chancellor has played a blinder, I think. He gets on well with his civil servants. That shows you how government at its best can work.” Mr Sunak’s support package comes two days after Prime Minister Boris Johnson said the country could have to cope with up to another six months of restrictions, including a 10pm curfew that will devastate the hospitality trade and advice to people to work from home if they can. Ministers are desperate to avoid a second blanket lockdown and the associated economic damage, with early indicators suggesting the recovery has slowed. But fears for the winter were fuelled by a jump in daily cases to 6,178. A further 37 people had died within 28 days of testing positive for Covid-19 as of yesterday. Confusion grew today over the scale of the Covid-19 outbreak in London after Health Secretary Matt Hancock told LBC radio’s Nick Ferrari that the number of cases was “broadly flat”, following a warning earlier this week from a health chief that there was a “rising tide” in the capital.

Source = MetiNews.Com

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Uk news Rishi to rescue with billions for wage subsidies to replace furlough London news


Uk news Rishi to rescue with billions for wage subsidies to replace furlough London news


Uk news Rishi to rescue with billions for wage subsidies to replace furlough London news


Uk news Rishi to rescue with billions for wage subsidies to replace furlough London news

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