The government have announced further temporary measures to help keep Britain paid.
‘STAY AT HOME’ – ‘PROTECT THE NHS’ – ‘SAVE LIVES’
Prime minister Johnson – Cafes, clubs, theatres and leisure centres are to close. Stay at home. Together we will beat this virus.
Rishi Sunak – announced economic interventions, one of the most comprehensive in the world.
A collective national effort – combination of measures:
– protect people’s job – the Corona virus job protection scheme, eligible for all employer. Grants available via HMRC, 80% up to £2,500 per month. Backdated to 1st March 2020 and available for 3 months. Available within weeks.
-coronavirus loans interest free for 12 months
-cash flow support, deferring VAT until the end of June
–universal credit increase by £1,000
-Increasing working tax credit
-universal credit available to self employed to match SSP
Do your best to stand behind workers. Great national effort to protect jobs. Look at support before laying off workers.
Zero hours contracts? The measures cover regular earnings under the PAYE scheme. It is not limited by sector or circumstance.
How long will the measure be needed for? It is a significant intervention managed through the normal debt management process.