By Gillian Cumming, Senior Solicitor.
Last week, Chancellor Rishi Sunak gave a speech entitled “A Plan for Jobs”, the transcript of which can be found here.
During his speech, the Chancellor confirmed that there would be no further extension of the Coronavirus Job Retention Scheme (the furlough scheme) beyond 31 October 2020.
Instead, he announced the introduction of the “Job Retention Bonus”. He confirmed that this will be a bonus of £1,000 per employee, payable to an employer for each employee they bring back to work from furlough and retain in employment until at least January 2021. To be eligible, the employee must be paid at least £520 per month on average between November and January.
We await further details on how the bonus will operate and the full eligibility criteria, expected to be published later in the month. We will issue a further JEL alert once those details have been published.
If you would like to discuss the above, or you require support or advice on any other employment law matters, please do not hesitate to contact the team on 0141 331 5150.