The Chancellor of the Exchequer, Rishi Sunak, has unveiled the government’s Winter Economy Plan to protect jobs and support businesses over the coming months. The transcript of his speech can be read here. The new measures include a new Jobs Support Scheme where the government will contribute towards the wages of employees who are working fewer than normal hours due to decreased demand. They are extending the Self Employment Income Support Scheme (SEISS) for those who are facing reduced demand due to COVID-19. Also announced was an extension to the temporary 15% VAT cut for the hospitality and tourism sectors, and help for businesses in repaying government-backed loans. A Treasury factsheet for the Job Support Scheme and SEISS Grant Extension is available here.
