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Employers to receive bonus for furloughed workers kept on

Chancellor Rishi Sunak has set out a plan for jobs that will “spur the UK’s recovery” from the COVID-19 outbreak.

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 Employers will receive £1,000 for each furloughed employee who is still employed as of January 31 2021
Employers will receive £1,000 for each furloughed employee who is still employed as of January 31 2021

The plan for jobs, revealed by the government yesterday (July 8), is the second part of a three-phase plan to secure the UK’s economic recovery from the pandemic. This stage will include:

 

A Job Retention Bonus to help firms keep furloughed workers. UK employers will receive a one-off bonus of £1,000 for each furloughed employee who is still employed as of January 31 2021.

 

A new £2bn Kickstart Scheme will be launched to create hundreds of thousands of new, fully subsidised jobs for young people across the country.

 

Those aged 16-24, claiming Universal Credit and at risk of long-term unemployment, will be eligible. Funding available for each six-month job placement will cover 100 percent of the National Minimum Wage for 25 hours a week – and employers will be able to top this wage up.

 

A total of £1.6bn will be invested in scaling up employment support schemes, training and apprenticeships to help people looking for a job. Young people, who are amongst the worst hit by the crisis, will benefit from this. This includes:

  • Businesses will be given £2,000 for each new apprentice they hire under the age of 25. This is in addition to the existing £1,000 payment the government already provides for new 16-18-year-old apprentices and those aged under 25 with an Education, Health and Care Plan;
  • A £111m investment to triple the scale of traineeships in 2020-21 ensuring more young people have access to high quality training;
  • £17m of funding to triple the number of sector-based work academy placements in 2020-21;
  • Nearly £900m to double the number of work coaches to 27,000;
  • Over a quarter of a million more young people to benefit from an extra £32m investment in the National Careers Service.
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