Rishi Sunak's "Winter Economy Plan" as Furlough Expires.

With the furlough scheme coming to an end and the Prime Minister's recent tighter restrictions to avoid a second wave of coronavirus cases, the Chancellor, today outlined additional government support for businesses and workers impacted by coronavirus across the UK.

So, what does this Winter Economy Plan encompass and who does it work for?

Support for workers

A Job Support Scheme will be introduced on 1st of November and run for 6 months in a bid to protect viable jobs in businesses who are facing lower demand over the winter months due to coronavirus. The government will "top-up" the wages of employees who are working fewer hours.

Employers will continue to pay the wages of staff for the hours they work, but for the hours not worked, the government and the employer will each pay one third of their equivalent salary.

This means employees who can only go back to work on shorter time will still be paid two thirds of the hours for those hours they can’t work. According to the government, in order to support only viable jobs, employees must be working at least 33% of their usual hours. The level of grant will be calculated based on employee’s usual salary, capped at £697.92 per month.

The Self Employment Income Support Scheme Grant (SEISS)