The Chancellor has unveiled the government’s Winter Economy Plan to protect jobs and support employment following the end of the Coronavirus Job Retention Scheme (CJRS) in October.
As the country faces continued social distancing measures and restrictions to prevent the spread of COVID-19, the Chancellor announced a new job support scheme targeted primarily at small and medium enterprises with further subsidies of wages. He has also sought to improve businesses’ cashflow by extending the existing loan schemes and promising new loan schemes for 2021.
Finally, the government will extend the reductions in VAT for the hardest-hit sectors of the economy – tourism and hospitality.
We welcome the measures announced on 24 September as they address the concerns of the UK’s economic engine: mid-market companies. Nearly a third of the mid-market companies we have surveyed are concerned about having to make redundancies and more than a third are struggling with cashflow.
Watch our webinar with detailed analysis of the measures and what they mean for your business.
New job support scheme targeted primarily at small and medium enterprises.
Watch as our experts discuss a range of employment matters that will assist you and your business.
Loan scheme extensions, new loans and VAT reductions.
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