Covid-19: Sunak set to unveil emergency jobs scheme
Chancellor Rishi Sunak will later unveil a plan aimed at minimising further unemployment as stricter Covid-19 restrictions come into force.In July, around five million workers were still receiving some or all of their incomePubs and restaurants have warned they will be hit hard by new restrictions.
"Lots of businesses will not survive this and we are going to see more and more people lose their jobs," said Kate Nicholls, chief executive of trade body UKHospitality. Mr Sunak also announced on Wednesday that the Autumn Budget would be scrapped this year because of the pandemic. The new scheme is likely to take inspiration from continental Europe, by subsidising"short time" work, that is to say, helping top up pay for workers given fewer hours of work in the crisis.
It is difficult to see how a full Spending Review over four years could occur. The Treasury can not calculate the size of the pie to be sliced up. Having a one year review, like last year, also avoids some corrosive internal politics over winners and losers. Since then, employers have been asked to pay 10% of the wages of those on furlough, plus their National Insurance and pension contributions.
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