Under this revised scheme, which is open to small and larger businesses, employers will pay less and staff can work fewer hours before they qualify.
Employers will have to pay a minimum of 20% of usual hours worked and 5% of hours not worked up to a cap of £125 per month. The government will now fund 62% of the wages for hours not worked which will almost double the maximum payment to £1,541.75 a month.
For some, this announcement may have come too late for their jobs but it is hoped this government support which will run for 6 months from the 1st November will help many businesses to protect jobs.
For details on eligibility and how to claim, please click here to view the government guidance.
If you are an employer and are unsure about how this scheme will affect you, please contact Lisa Aitken on 07960 469988 or if you are an employee and are concerned about eligibility for this scheme or redundancy, please do get in touch.