The Chancellor presented his “Plan for Jobs” this week, providing a number of financially supportive measures, designed to kick-start the economy. We have published a number of articles on this point on our blog.
Job retention bonus
There will be a new one-off payment of £1,000 to UK employers for every furloughed employee who remains continuously employed until at least 31 January 2021. Employees must earn above £520 per month on average between 1 November 2020 and 31 January 2021. Payments will be made from February 2021 and further details about the bonus will be announced by the end of July 2020.
From 1 August 2020 to 31 January 2021, employers in England will receive a payment of £2,000 for each new apprentice they hire aged under 25, and £1,500 for each new apprentice they hire aged 25 and over. These payments will be in addition to the existing £1,000 payment that the government already provides for new 16-18-year-old apprentices.