Coronavirus: Millions Will Claim As Government Job Site Goes Online

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Rishi Sunak

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The government’s compensation package for workers on the payroll, although they are not working due to a coronavirus, is scheduled to open on Monday.

Under the coronavirus retention program, the government will cover 80% of workers’ wages, up to £ 2,500 per month if they are put on leave.

Chancellor Rishi Sunak said: “It is vital that our economy starts up again as soon as it is secure. “

Millions of workers are expected to be “put on leave” because of the lockout.

The Treasury said the system, which will go online at 8:00 am Monday, can handle up to 450,000 requests per hour. Employers should receive the money within six working days of the request, he added.

“Payday is approaching”

On Friday, Sunak announced that the wage subsidy program will be extended for another month until the end of June.

The move came after the government confirmed that foreclosure restrictions in the UK would continue “at least” for another three weeks.

Adam Marshall, managing director of the British Chambers of Commerce, said: “With April pay day approaching, it is essential that the application process is smooth and that payments are made as quickly as possible.

“Any delay would worsen the cash crisis many companies face and could threaten jobs and businesses,” he added.

How does the program work?

Under the Coronavirus Job Retention Scheme, the government will cover 80% of workers’ wages, up to a maximum of £ 2,500 per worker, per month before tax.

The bosses will pay the workers and collect the money from HM Revenue and Customs (HMRC) online after the service goes live on April 20.

The minimum time an employee can be on leave is three weeks, and businesses should not start receiving money until at least the end of April.

Read more here.

According to new research from the Resolution Foundation, adoption of the program has been higher than initially expected.

He estimates that eight million workers could be on leave in the coming weeks.

He found that those working in low-wage sectors – such as hotels or retail – were the most affected, with almost half of the workforce being put on paid leave.

Daniel Tomlinson, economist at the Resolution Foundation, said: “The government’s welcome job retention program is what lies between Britain which will experience high unemployment in the coming months and catastrophic levels of unemployment long term at the time of depression.

“It is particularly essential in large, low-paying sectors such as hotels and retail, where about half of the workforce is no longer employed. “

High Street chains such as Oasis and Warehouse, as well as fast food companies KFC and McDonald’s, all have employees on leave because their work is stalled locked.

Rain Newton-Smith, chief economist at the Confederation for British Industry, welcomed the launch of the online application service for businesses.

“The deployment of the job retention program will make a huge difference for tens of thousands of businesses and millions of people, protecting jobs and standard of living across the UK,” she said. declared.

“It is of the utmost importance to ensure that assistance arrives where it is most needed – quickly. “

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