Protecting Jobs and Livelihoods Amid Local Lockdowns
- Government to cover 67% of wages for businesses affected by local restrictions
- Job Support Scheme expansion to protect jobs and livelihoods
- Employers not required to contribute towards wages, only NICS and pension contributions
- Minimum seven consecutive days off work for staff eligibility
- Grants increased to £3,000 per month in England, up from £1,500 every three weeks
- Hundreds of thousands of businesses to benefit including restaurants, pubs, nightclubs, and bowling alleys
Chancellor Rishi Sunak announced that businesses forced to shut due to local restrictions will be eligible for a grant covering two-thirds of staff salaries, up to £2,100 per month. Employers are not required to contribute towards wages and only need to cover NICS and pension contributions. The scheme is available to businesses subjected to local lockdowns, with staff needing to be off work for a minimum of seven consecutive days. Sunak stated that the government will do whatever necessary to protect jobs and livelihoods as the situation evolves. Grants have been increased to £3,000 per month in England, up from £1,500 every three weeks, benefiting hundreds of thousands of businesses such as restaurants, pubs, nightclubs, and bowling alleys. The devolved administrations in Scotland, Wales, and Northern Ireland will receive a £1.3bn increase to their guaranteed funding for 2020-21.
Factuality Level: 10
Factuality Justification: The article provides accurate information about the government’s announcement regarding financial support for businesses affected by local restrictions and includes details on the amount of salary coverage, eligibility criteria, and additional grants. It also mentions the impact on various industries and funding for devolved administrations.
Noise Level: 4
Noise Justification: The article provides relevant information about the government’s support measures for businesses affected by local restrictions and includes specific details on financial assistance. However, it lacks in-depth analysis or exploration of long-term implications.
Financial Relevance: Yes
Financial Markets Impacted: Businesses forced to shut due to local restrictions, particularly in the hospitality industry (restaurants, pubs, nightclubs, bowling alleys)
Financial Rating Justification: The article discusses financial support from the government for businesses affected by local lockdowns and its impact on their ability to pay staff salaries and cover fixed costs, which is relevant to financial topics and has an effect on these specific companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the text. The article discusses government support measures for businesses affected by local restrictions due to the ongoing pandemic.
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