Last week the UK Chancellor announced a new scheme to help support jobs in the UK. Currently the UK’s coronavirus job retention scheme helps UK businesses by paying a percentage of wages of those employees on furlough, but that scheme comes to an end in October. Given that the UK economy remains fragile there was concern that the UK would see more business failures and mass redundancies once the scheme ends. A number of the temporary measures to help support the UK economy have been extended and the new scheme will hopefully avoid the cliff edge feared, but whether the measures will help keep people in jobs and companies in business we will have to wait and see. Our employment colleagues have prepared this alert explaining how the new scheme is intended to work.
