Government Coronavirus support as it stands
In light of the second national lockdown for England (in place until the 2nd of December) there's been a significant impact on the UK's current workforce situation, leaving many workers with multiple questions and concerns. In an ever changing environment, it can be hard to keep track of the latest news, so below, we explore what help is on hand for those who affected by these new measures, both employed and self employed.
Support for employees:
Yesterday, it was announced that businesses and employees across the UK have been given more certainty over winter months with further support announced by the Chancellor Rishi Sunak
The furlough scheme, which was due to only be extended until the 2nd of December will now be extended until the end of March with workers receiving 80% of their current salary – protecting millions of jobs across the UK. This will be reviewed in January.
As part of the revised scheme, anyone made redundant after 23 September can be rehired and put back on furlough.
Clipper Contracting are proud to have furloughed workers throughout the first lockdown. However, the support offered in this extension has not been created with the temporary employment market in mind. We regret being unable to further support our umbrella employees due to the prohibitive costs in the way the furlough scheme is currently constructed.
Support for the Self Employed:
Support for millions more workers through the Self-Employment Income Support Scheme (SEISS) will be increased, with the third grant covering November to January calculated at 80% of average trading profits, up to a maximum of £7,500.
However, many people will remain ineligible for help, including the newly self-employed, those whose pay themselves in dividends, freelancers, and sole traders who previously had a trading profit of more than £50,000.
On top of this, the government has also announced
· Cash grants of up to £3,000 per month for businesses which are closed worth more than £1 billion every month
· £1.1 billion is being given to Local Authorities, distributed on the basis of £20 per head, for one-off payments to enable them to support businesses more broadly
· Plans to extend existing government-backed loan schemes and the Future Fund to the end of January, and an ability to top-up Bounce Back Loans
· An extension to the mortgage payment holiday for homeowners
· Up to £500 million of funding for councils to support the local public health response.
Further information and guidance on the extended schemes can be found through these links: