Furlough: Rishi Sunak reveals replacement support scheme
A new support scheme to replace furlough has been unveiled by the UK Chancellor Rishi Sunak.
It will mean thousands of people in Wales will be eligible for support - as long as they are in work for a least a third of their hours.
The government will then help top up wages, with companies asked to pay 55% of the bill.
The new emergency fund will be in place for six months, from 1 November.
The current furlough scheme comes to an end in October.
Mr Sunak said the furlough scheme would end because the support must "adapt and evolve".
He said no decision was harder but it was "fundamentally wrong" to keep people in unviable jobs.
"I can't save every job - no chancellor could," he told MPs as he unveiled details of the new Job Support Scheme.
Under the new scheme, a worker who does a minimum of 33% of their weekly hours will be guaranteed 77% of their weekly wage.
It would see the UK government paying a 22% slice of the bill - with firms paying the rest.
A new support scheme to replace furlough has been unveiled by the UK Chancellor Rishi Sunak.
It will mean thousands of people in Wales will be eligible for support - as long as they are in work for a least a third of their hours.
The government will then help top up wages, with companies asked to pay 55% of the bill.
The new emergency fund will be in place for six months, from 1 November.
The current furlough scheme comes to an end in October.
Mr Sunak said the furlough scheme would end because the support must "adapt and evolve".
He said no decision was harder but it was "fundamentally wrong" to keep people in unviable jobs.
"I can't save every job - no chancellor could," he told MPs as he unveiled details of the new Job Support Scheme.
Under the new scheme, a worker who does a minimum of 33% of their weekly hours will be guaranteed 77% of their weekly wage.
It would see the UK government paying a 22% slice of the bill - with firms paying the rest.
n addition to the furlough replacement, the chancellor announced that businesses borrowing money through the government's loan scheme would also be given more time to repay the money.
A VAT cut for hospitality and tourism companies will also be extended until March. The cut from 20% to 5% VAT - which came into force on 15 July - had been due to expire on 12 January next year.
Responding to the announcement, the business body CBI Wales welcomed the pledges.
"These bold steps from the Treasury will save hundreds of thousands of viable jobs this winter," said CBI Wales director Ian Price.
"The chancellor has listened to evidence from business and unions, acting decisively.
"It is this spirit of agility and collaboration that will help make 2021 a year of growth and renewal."
Full (and very long) article -
Chancellor reveals furlough replacement scheme