Government to pay up to 80% of wages to stop job losses
The Coronavirus Job Retention Scheme
Photo: Andrew Parsons/Number 10/Flickr CC BY-NC-ND 2.0
The government will pay up to 80% of salaries for employees who are asked to stop working but kept on company payroll
The Coronavirus Job Retention Scheme, announced by chancellor Rishi Sunak today (20 March), is designed to keep people employed, even if they are not working. The compensation will cover up to a maximum of £2,500 per month per employee, just above the median income. Any employers will be eligible, but will need to contact HM Revenue & Customs to claim the costs, which can be backdated to 1 March. Sunak said there was "no limit on the amount of funding available" but he expected the first grants...
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