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UK extends 80% wage subsidies as England goes back into lockdown


Minggu, 01 November 2020 / 06:22 WIB
UK extends 80% wage subsidies as England goes back into lockdown
ILUSTRASI. A man walks past a poster amid the outbreak of the coronavirus disease (COVID-19), in Manchester, Britain October 21, 2020.


Sumber: Reuters | Editor: Wahyu T.Rahmawati

KONTAN.CO.ID - LONDON. Britain's government will extend by a month its costly coronavirus wage subsidies to ensure workers who are temporarily laid off receive 80% of their pay, Prime Minister Boris Johnson said on Saturday as he announced a new England-wide lockdown.

Britain introduced the 80% wage subsidy scheme in March and it had been due to expire on Saturday to be replaced with a more targeted and less generous support.

The scheme supported 8.9 million jobs at its peak, and had been forecast to cost around 52 billion pounds ($67.28 billion) over its eight-month lifespan.

Firms will have to contribute 5% of the employment costs for workers covered by the extension, the finance ministry said.

Read Also: Argentina to restart international flights, some tourism after ban

It also said a mortgage payment holiday scheme would be extended for households and business premises which are required to close because of coronavirus restrictions would get grants of up to 3,000 pounds ($3,881) a month.

Mortgage borrowers impacted by the pandemic and who have not yet had a payment break will be entitled to a six-month holiday, while those that have already started a payment holiday will be able to top up to six months, the ministry said.

"I have always said that we will do whatever it takes as the situation evolves. Now, as restrictions get tougher, we are taking steps to provide further financial support to protect jobs and businesses," finance minister Rishi Sunak said.

"These changes will provide a vital safety net for people across the UK."

Read Also: U.S. breaks daily record for coronavirus cases with over 91,000 new infections

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