Chancellor Rishi Sunak has unveiled his new job support scheme in Parliament, in a bid to stave off a spike in job losses once the current furlough scheme ends.
Sunak’s new scheme, which will come into effect on November 1 when the furlough scheme ends on October 31, is aimed at encouraging businesses to retain what he called “viable” jobs.
If employees are kept on and work 33% of their original hours, the government will then subsidise another third of that employee’s salary, with the final third being paid for by the employer.
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