The Chancellor, Rishi Sunak, has today (Oct 22) announced that there will be further support for businesses, their workers and self-employed people, who have been adversely affected by Covid-19.
The Job Support Scheme is being altered so that now workers only need work 20% of their usual hours, meaning that those now only working 1 day per week, will be eligible to claim through the scheme. The minimum paid by employers is also being reduced down to 5%, with the Government giving the example of someone being payed £587, only £44 of that would be contributed by the employer and the rest being paid by the Government.
Business grants are also being doubled from up to 20% to now up to 40%, with the maximum grant changing from £1,875 to £3,750. This equates to approximately £3bn covering from November to January, with a further grant covering February through to April.
The Chancellor also took the opportunity to announce cash grants of up £2,100 for businesses, primarily in the hospitality sector that may not have closed down entirely but have seen a great reduction in their custom as a result of restrictions.
These announcements come hand in hand with promises made to local authorities around supporting businesses and workers that have been affected by the High and Very High Covid-19 restrictions.