Chancellor of the Exchequer, Rishi Sunak, has today annouced his "mini budget", including his Plan for Jobs measures. A far cry from yesterday's concerns that employers who cannot retain furloughed staff will have to repay the furlough monies, the Chancellor announced a staff retention bonus.
Full details of the scheme have not yet been released, but the Chancellor confirmed that if an employer brings someone back who was furloughed and continues to employ them between November 2020 and January 2021, the government will award a £1,000 bonus for each worker. The scheme is subject to the worker earning the lower earning limit for national insurance (£520 per month) between November and January in order for employers to be eligible for the pay-out.
If you have any queries regarding furlough, or employment matters related to Coronavirus, please do not hesitate to give Charlotte Braham a call on 01494 893529.