Chancellor Rishi Sunak has announced the Jobs Support Scheme, replacing the job retention furlough scheme, giving people in work three quarters of their normal salaries for six months.

The UK government will be topping up wages of workers who have not been able to return to the workplace full time due to the coronavirus, instead of paying people to stay at home.

Sunak hopes the new £300 million a month package, starting on 1 November, will prevent mass job cuts when the furlough scheme ends next month on 31 October.

Around three million workers representing 12% of the UK workforce, are benefiting from partial or full furlough leave, according to figures.

The government wants to support the wages of people in work, giving viable “businesses who face depressed demand the option of keeping employees in a job on shorter hours, rather than making them redundant," Mr Sunak said.

He will "support only viable jobs" as opposed to jobs that only exist because the government is continuing to subsidise the wages, adding that he "cannot save every business and save every job."

Mr Sunak also offered businesses that have borrowed money through the government's loan scheme more time to repay the money.

The VAT cut for hospitality and tourism companies will be extended until March.

The chancellor announced that small businesses who took out "Bounce Back" loans can use the new “Pay as You Grow” flexible repayment system, which means repayments on borrowings can be spread over 10 years instead of the original six-year term.

Other articles available atMoney Tips Podcast - www.moneytipsdaily.com
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House prices rise to reach all time high
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Will demand for HMO rooms rise or fall?
Is this the end of office work as we know it?
Home workers one step closer to outsourced
Why live in expensive town centres anymore?
Buy-to-let landlords ignore “NO DSS” tenant ban
Thousands trapped in unsellable leasehold flats
2m homeowners apply for mortgage payment holiday
Government extends ban on landlords evicting tenants
Self-employed, have you claimed your government grant?
UK property prices jumped by 3% since June following stamp duty cut
Why UK Property prices rising after stamp duty cut, despite the downturn?
New planning rules will open up more opportunities to make money in property
You can create a second income during the lockdown…and come out stronger
Learn how to make money from property without deposits, mortgages or cash

Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period.

Are you ready to adapt to the new economic model?

As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?

By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.

There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.

If you’d like further information on wealth mentoring and coaching, how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com

 

 

 

 

 

Chancellor Rishi Sunak has announced the Jobs Support Scheme, replacing the job retention furlough scheme, giving people in work three quarters of their normal salaries for six months.
The UK government will be topping up wages of workers who have not been able to return to the workplace full time due to the coronavirus, instead of paying people to stay at home.
Sunak hopes the new &pound;300 million a month package, starting on 1 November, will prevent mass job cuts when the furlough scheme ends next month on 31 October.
Around three million workers representing 12% of the UK workforce, are benefiting from partial or full furlough leave, according to figures.
The government wants to support the wages of people in work, giving viable &ldquo;businesses who face depressed demand the option of keeping employees in a job on shorter hours, rather than making them redundant," Mr Sunak said.
He will "support only viable jobs" as opposed to jobs that only exist because the government is continuing to subsidise the wages, adding that he "cannot save every business and save every job."
Mr Sunak also offered businesses that have borrowed money through the government's loan scheme more time to repay the money.
The VAT cut for hospitality and tourism companies will be extended until March.
The chancellor announced that small businesses who took out "Bounce Back" loans can use the new &ldquo;Pay as You Grow&rdquo; flexible repayment system, which means repayments on borrowings can be spread over 10 years instead of the original six-year term.
Other articles available at <a href="http://www.moneytipsdaily.com/">Money Tips Podcast</a> - <a href="http://www.moneytipsdaily.com/">www.moneytipsdaily.com</a>
<ul>
<li>Have you made a Will?</li>
<li>How will a crash affect your pension?</li>
<li>House prices rise to reach all time high</li>
<li>How to avoid bankruptcy in business</li>
<li>Will demand for HMO rooms rise or fall?</li>
<li>Is this the end of office work as we know it?</li>
<li>Home workers one step closer to outsourced</li>
<li>Why live in expensive town centres anymore?</li>
<li>Buy-to-let landlords ignore &ldquo;NO DSS&rdquo; tenant ban</li>
<li>Thousands trapped in unsellable leasehold flats</li>
<li>2m homeowners apply for mortgage payment holiday</li>
<li>Government <a href="http://www.moneytipsdaily.com/u-turn-on-tenant-eviction-ban-as-government-extends-by-four-weeks/">extends ban on landlords evicting tenants</a></li>
<li>Self-employed, <a href="http://www.moneytipsdaily.com/self-employed-have-you-claimed-a-grant-through-the-self-employment-income-support-scheme/">have you claimed your government grant</a>?</li>
<li>UK property prices jumped by 3% since June following stamp duty cut</li>
<li>Why UK <a href="http://www.moneytipsdaily.com/uk-property-prices-rise-after-stamp-duty-cut-say-rightmove/">Property prices rising after stamp duty cut</a>, despite the downturn?</li>
<li>New planning rules will open up more opportunities to make money in property</li>
<li>You can create a second income during the lockdown&hellip;and come out stronger</li>
<li>Learn how to make money from property without deposits, mortgages or cash</li>
</ul>
Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn&rsquo;t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period.
Are you ready to adapt to the new economic model?
As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?
By Charles Kelly, Wealth Mentor, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.
There are more examples and practical steps to getting rich and being happy in my book, <a href="http://bit.ly/2MoneyBook">Yes, money can buy happiness</a>, I cover the 3 R&rsquo;s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon <a href="http://bit.ly/2MoneyBook">http://bit.ly/2MoneyBook</a>.
If you&rsquo;d like further information on wealth mentoring and coaching, how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at <a href="http://www.moneytipsdaily.com/">www.moneytipsdaily.com</a>
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Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness.  Charles spent over 25 years in financial services working for banks, Insurance companies and as a qualified Independent Financial Adviser running his practice, before setting up his speaking, consultancy and property business.  Money Tips will help you save, make and accumulate more money whether you are a business owner, entrepreneur, employee or still searching for your vocation.   For more tips and information visit Mondeytipsdaily.com. The Information given in this podcast is for your entertainment and should not be construed as financial advice. As always, take independent financial advice before making any investment decisions.

Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness.&nbsp; Charles spent over 25 years in financial services working for banks, Insurance companies and as a qualified Independent Financial Adviser running his practice, before setting up his speaking, consultancy and property business.&nbsp; Money Tips will help you save, make and accumulate more money whether you are a business owner, entrepreneur, employee or still searching for your vocation. &nbsp; For more tips and information visit Mondeytipsdaily.com. The Information given in this podcast is for your entertainment and should not be construed as financial advice. As always, take independent financial advice before making any investment decisions.

Money Tips Podcast

Welcome to Money Tips by Charles Kelly, author of Yes, Money Can Buy You Happiness. 

Charles spent over 25 years in financial services working for banks, Insurance companies and as a qualified Independent Financial Adviser running his practice, before setting up his speaking, consultancy and property business. 

Money Tips will help you save, make and accumulate more money whether you are a business owner, entrepreneur, employee or still searching for your vocation.  

For more tips and information visit Mondeytipsdaily.com. The Information given in this podcast is for your entertainment and should not be construed as financial advice. As always, take independent financial advice before making any investment decisions.

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