The government have this afternoon confirmed they will step in and pay peoples salaries.
Government grants will cover 80% of workers salaries upto £2,500 a month, backdated to March 1st and to continue for an initial three months.
Chancellor Rishi Sunak confirmed “I have a responsibility to make sure that we protect, as far as possible, people’s jobs and incomes.
“Today I can announce that in the first time of our history, the Government is going to step in and help pay people’s wages.
“We’re setting up a new coronavirus job retention scheme. Any employer in the country small or large, charitable or non-profit, will be eligible for the scheme.
“Employers will be able to contact HMRC for a grant to cover most of the wages of people who are not working but are furloughed and kept on payroll rather than being laid off.
“Government grants will cover 80% of the salary of retained workers up to a total of £2,500 a month – that’s just above the median income.”
More to follow
