Good news about funding for businesses and workers in South Ribble affected by COVID restrictions.
Very pleased that the conversations I have been having with the chancellor on behalf of businesses in South Ribble have been listened to. Today the Chancellor annouced a big package of support for businesses which have been affected by the recent tier 2 and tier 3 restrictions supporting jobs and helping to contain the virus.
- The Open Job Support Scheme is being expanded and made more generous to protect jobs in businesses facing lower demand.
- The Government will now pay at least 62% for hours not worked and employer contribution will be cut from 33% to 5%.
- Employees now take home at least 73% of pay for working a new minimum of 20% of hours
- We're also increasing the generosity of self-employed grants from 20% to 40%, meaning the maximum grant will go up from £1,875 to £3,750.
- Grants are available for all self-employed people (across the whole of South Ribble) who've stopped trading or have a significant fall in trade, with two further payments to come, with a further grant to follow for February to April.
- Crucially, the Government is introducing a new grants scheme for businesses in Tier 2, even if they aren’t legally required to close
For more information - https://www.gov.uk/government/news/plan-for-jobs-chancellor-increases-f…