Automated Accounts Payable provider Glantus Holdings raises 14M and successfully floats on AIM. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

UPDATE 1-UK's Sunak announces new job support scheme

Thu, 24th Sep 2020 12:17

(Adds details, context)

LONDON, Sept 24 (Reuters) - British finance minister Rishi
Sunak announced a new jobs support scheme on Thursday that would
help firms employ people on shorter hours, but warned he could
not save every business or job.

"The government will directly support the wages of people in
work, giving businesses who face depressed demand the option of
keeping employees in a job on shorter hours, rather than making
them redundant," Sunak told parliament.

"It will support viable jobs to make sure that employees
must work at least a third of their normal hours and be paid for
that work as normal by their employer," he added.

"The government, together with employers, will then increase
those people's wages, covering two-thirds of the pay they have
lost by reducing their working hours."

Britain's existing furlough scheme, the Coronavirus Job
Retention Scheme, which supported around 9 million jobs at its
peak in May, is due to stop at the end of next month. It is
expected to cost around 50 billion pounds ($64 billion).

Around 5 million jobs were still supported by the programme
at the end of July, according to tax data, and earlier on
Thursday Britain's statistics agency estimated that one in eight
workers were being helped by the programme in early September.

The CJRS paid employers 80% of the salaries of furloughed
workers, up to 2,500 pounds a month.
(Reporting by David Milliken and Andy Bruce, writing by William
James, editing by Elizabeth Piper and Stephen Addison)

More News

Sunday newspaper round-up: Pfizer, GlaxoSmithKline, Rolls-Royce

(Sharecast News) - Pfizer's most senior UK executive has criticised the call to forgo patents on Covid vaccines, warning that it would lead to a global shortage of raw materials. Ben Osborn, who leads the American drugs giant in the UK, said an intellectual-property waiver was "not the answer". "We would see a very rapid short-term impact," he said. "It could allow any organisation to start procuring some of these basic raw materials across multiple countries." Osborn, 44, said it could even mean that existing vaccine manufacturers - which include Astra Zeneca and US biotech venture Moderna - would be unable to fulfil their obligations to deliver doses. - Sunday Times

Today 12:25

UK has "high degree of confidence" vaccines work versus Indian variant

UK has "high degree of confidence" vaccines work versus Indian variant

Today 11:57

PRESS: Devon tungsten mine owner plans GBP100 million AIM IPO - Times

PRESS: Devon tungsten mine owner plans GBP100 million AIM IPO - Times

Today 11:10

UPDATE 1-UK to make final lockdown easing decision on June 14

(Adds vaccine comments, context)LONDON, May 16 (Reuters) - Britain will make a decision on June 14 about whether or not to go ahead with the final phase of its easing of COVID-19 lockdown restrictions, health minister Matt Hancock said on Sunday.B...

Today 09:07

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.