Tag: scheme

Redundancy advice calls triple as furlough scheme winds down

Image copyright Getty Images Image caption Citizens Advice had the highest daily number of visitors to its website topped four times in one week Thousands of firms and employees are seeking redundancy advice as the coronavirus crisis continues to bite into the UK economy. Conciliation service Acas said calls to its redundancy advice line almost tripled in June and July,… Read more →

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Coronavirus: Is the furlough scheme ending too soon?

Image copyright Bloc Blinds Image caption Bloc Blinds adapted to manufacturing PPE early in the pandemic Not many Northern Ireland businesses can say they have thrived during the pandemic. Obvious exceptions are manufacturers, like Bloc Blinds, which quickly reorientated its factories to produce vital personal protection equipment (PPE). The IT firm Kainos has also been able to keep growing. In… Read more →

Coronavirus: Labour wants review of job retention bonus scheme

Image copyright JESSICA TAYLOR/UK Parliament Image caption The scheme is major plank of Chancellor Rishi Sunak’s recovery plan Labour is calling for a review of whether the chancellor’s job retention bonus scheme represents value for money for the taxpayer. The scheme will pay firms £1,000 for each employee brought back to work from furlough and employed until January. Labour’s call… Read more →

Banks propose ‘student loans style’ scheme to avert job losses

Image copyright NurPhoto UK banks fear that up to 800,000 businesses could go bust in the next year if they are unable to defer repayments on government-backed loans. The lending industry is proposing a student loans-type scheme, where coronavirus loans can be converted into a tax debt repayable over a decade. Like student loans, the money would only be repayable… Read more →

Rishi Sunak defends furlough bonus scheme

Image copyright AFP Chancellor Rishi Sunak has defended his job retention bonus scheme after MPs questioned its value for money. The policy – which was announced last week – will see the government pay employers £1,000 for every furloughed worker they retain past January. MPs on the Treasury Committee described the scheme as “badly-timed and poorly-targeted”. But Mr Sunak said… Read more →

Rishi Sunak’s ‘Kickstart’ jobs scheme: Back to the future?

Image copyright PA Media When Chancellor Rishi Sunak announced his £2bn “Kickstart” jobs scheme this week, for some it sounded strangely familiar. Those of a certain age may remember the Future Jobs Fund – the scheme set up by then-Labour Prime Minster Gordon Brown and Chancellor Alastair Darling in 2009 in reaction to the global financial crash. Like the current… Read more →

Coronavirus: Rishi Sunak to unveil ‘kickstart jobs scheme’ for young people

Image copyright PA Media Image caption The chancellor will present the plans to Parliament on Wednesday Chancellor Rishi Sunak will announce a £2bn “kickstart scheme” on Wednesday to create more jobs for young people. The fund will subsidise six-month work placements for people on Universal Credit aged between 16 and 24, who are at risk of long-term unemployment. Labour welcomed… Read more →

UK furlough scheme now covers 8.9 million workers

Media playback is unsupported on your device Media captionPersonal finance expert Martin Lewis says he wants an end to ‘furlough shaming’ online Some 8.9 million workers are now covered by the government’s furlough scheme, the Treasury has said. Claims for subsidies filed by employers have now reached £19.6bn, it added. The scheme, brought in to mitigate the effects of coronavirus,… Read more →