Tag: work

Coronavirus: More than half of furloughed staff ‘back at work’

Image copyright EPA More than half of the people furloughed during the pandemic are now back at work, a think tank has suggested. The Resolution Foundation said fewer than 4.5 million workers were currently furloughed, as employers begin contributions toward the scheme. It comes as some businesses face putting workers back on furlough after lockdown easing was halted in England.… Read more →

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Coronavirus: Samsung profits soar on work from home demand

Image copyright Getty Images Samsung Electronics has seen its earnings soar as sales were boosted by millions working and learning from home during the virus pandemic. The world’s largest maker of smartphones said second quarter operating profits rose 23% compared to last year. The results were helped by strong demand for computer chips, which pushed up prices on the global… Read more →

Caution means mass return to work unlikely, say firms

Image copyright Getty Images Businesses remain cautious about the latest lockdown easing for England, and warn that any mass return to work immediately was unlikely. The British Chambers of Commerce said companies still needed “crystal-clear official guidance” on a safety. And the Institute of Directors said “there is a significant amount of caution out there” in the country. New guidelines… Read more →

Another 15,000 Scots seeking work over lockdown

Image copyright Getty Images Image caption Official figures show unemployment in Scotland rose between March and May as the impact of lockdown was felt Unemployment in Scotland rose between March and May as the impact of lockdown was felt, official figures indicate. Scotland’s unemployment rate rose to 4.3% in the period, a 0.6% increase on the previous quarter. This was… Read more →

What is VAT and how does it work?

Image copyright Getty Images Chancellor Rishi Sunak is cutting the rate of value added tax (VAT) on hospitality and tourism from 20% to 5%, from 15 July 2020 to 12 January 2021. The cut applies to food and non-alcoholic drinks as well as accommodation and admission to attractions across the UK. Mr Sunak said the move is to “get the… Read more →

How would a stamp duty holiday work?

Image copyright Getty Images The chancellor is likely to announce changes to stamp duty on Wednesday to help cut costs for anyone buying a home. Reports suggest that the level at which the tax is charged could be temporarily raised to £500,000 to boost the property market and help buyers struggling because of the coronavirus crisis. What is stamp duty?… Read more →

Coronavirus: Young people ‘face trap of world without work’

Image caption The study warns that the youth unemployment rate could spike in the autumn The economic damage of the coronavirus crisis will hit young workers hardest, an Ulster University study has suggested. It estimated that youth (ages 16-24) unemployment in Northern Ireland could jump from 8% to 26% in 2020. That compares to an estimated unemployment rate of about… Read more →

Work in crisis: Furlough benefits not for everyone

Image copyright Getty Images Support for self-employed workers has worked less well than furlough for employees. The two looked similar, but were designed very differently Many have fallen through the cracks in support, but for some, it’s a £13,250 windfall they didn’t need The crisis and big changes to the way we work coincide with reforms already under way, that… Read more →