The Chancellor unveiled today (20 March) a further series of measures to support people, jobs and businesses
Posted on: 20/03/20
- The government will pay up to 80 per cent of the wages of people unable to work during the coronavirus crisis, chancellor Rishi Sunak has announced.
- Payments of up to £2,500 per worker per month would be backdated to March. Employers will be able to contact HMRC for a grant to cover most of the wages of people who are not working but are furloughed and kept on payroll, rather than being laid off.
- Coronavirus Business Interruption Loan Scheme will not be interest free, as previously planned, for 6 months – it will now be interest free for twelve months.
- To help businesses pay people and keep them in work, next quarter of VAT payments will be deferred. That means no business will pay any from now until the end of June; and will have until the end of the financial year to repay those bills.
- At the same time, Boris Johnson ordered pubs, restaurants and cafes to close their doors this evening and not reopen tomorrow in an effort to prevent the further spread of coronavirus.