New Job Support Scheme revealed24 September 2020
Chancellor Rishi Sunak has revealed details of a Job Support Scheme, that will replace furlough when it closes on 31 October.
The furlough scheme in its current form will not continue but will be replaced with this more targeted scheme which will top-up salaries in firms that can’t take employees back full-time.
To be eligible, employees must work at least a third of their normal hours. For the remaining hours not being worked, the government and employer will each pay a third of the wages.
The government says this means the employee would get at least 77% of their pay. The scheme is open to small and medium-sized businesses (usually defined as firms with 250 employees or less). Large businesses whose revenue has fallen due to coronavirus will also be eligible. The scheme will run for six months from 1 November.