On 8 July, the UK Chancellor announced proposals to help UK businesses have the confidence to retain and hire staff. The Government announced that the Coronavirus Job Retention Scheme has helped employers pay the wages of 9 million employees across the UK. However, the scheme will come to an end on 31 October 2020 and as the economy is now beginning to reopen, the summer economic update looks at the Government’s second phase of its response to the Coronavirus with a targeted Plan for Jobs.
The Plan includes the following proposals to support employers:
- A Job Retention Bonus. This will