Chancellor of the Exchequer Rishi Sunak leaves 10 Downing Street after attending a Cabinet meeting on 14 February, 2020.
U.K. Finance Minister Rishi Sunak has announced a new emergency package of measures to contain unemployment, replacing the country’s furlough scheme which is due to expire next month.
The Jobs Support Scheme will directly top up the wages of employees working fewer hours due to suppressed business demand, enabling workers to keep their jobs on shorter hours rather than being made redundant. It will run for six months from November.
Employees must work at least one-third of their normal hours and be paid for that work as normal, but the government will increase wages covering the remaining two-thirds of the pay. The scheme will target all small and medium-sized businesses across the U.K., though larger companies may be eligible if they have experienced a…