Further Measures Announced to Help Employers & Job Seekers
In his summer statement on 8 July, Chancellor Rishi Sunak announced a raft of new measures to help tackle the potential unemployment crisis.
These measures include:
- The Coronavirus Job Retention Scheme Bonus
- Support for Young Workers
The Coronavirus Job Retention Scheme Bonus
Employers that have used the Coronavirus Job Retention Scheme can receive a bonus of £1,000 for each furloughed employee who meets the following conditions:
- They must earn a minimum of £520 per month on average for the months of November, December and January.
- They have been on furlough previously and legitimately claimed for under the Coronavirus Job Retention Scheme
- They must be continuously employed up to at least 21st January 2021.
Employers can claim this bonus from February 2021 with more information on the bonus to be released by 31st July and fully published in the Autumn.
Support for Young Workers
A number of different initiatives were announced, including the Kickstart scheme, which is a £2bn fund to pay for six-month work placements for 16 to 24-year-olds on universal credit.
Payments under the scheme will cover national minimum wage for 25 hours per week, plus national insurance and pension contributions for Great Britain
Support for employers taking on trainees in the form of a £1,000 grant per trainee for employers who take on new trainees aged 16-24 in England.
A £2,000 grant for employers per apprentice under 25 hired, £1,500 for those over 25, for six months starting 1 August, in England.