UK government raises job support aid, cuts employers' contributions
- We are making job support scheme more generous
- Employees only require to work 20% of hours, previously 33%
- Firms only cover 5% of non-worked hours, previously 33%
- Maximum grant will increase to £3,750 from £1,875 previously
- Doubles grants for self-employed from 20% to 40%
- Cash grants will be up to £2,100 per month for every month Tier 2 applies
This was very much in the works already as preempted earlier here. In terms of announcements for additional support, this is Sunak's fourth in four months and underscores the challenges faced by the UK economy in general.
Only time will tell if this will be sufficient or if more fiscal aid will be needed.
