To spur the UK’s recovery from the coronavirus pandemic, the Chancellor has just presented his Plan for Jobs. What are the key employment points?
Job retention bonus
There will be a new one-off payment of £1,000 to UK employers for every furloughed employee who remains continuously employed until at least 31 January 2021. Employees must earn above £520 per month on average between the end of the Coronavirus Job Retention Scheme and 31 January 2021. Payments will be made from February 2021 and further details about the bonus will be announced by the end of July 2020.
Kickstart
A new kickstart scheme in Great Britain will fund the direct creation of six-month work placements aimed at those aged 16-24 who are on Universal Credit and are deemed to be at risk of long-term unemployment. Funding available for each job will cover 100% of the relevant national minimum wage for 25 hours a week, plus the associated employers’ NI and the minimum auto-enrolment employer pension contribution.
Traineeships
Employers in England who provide work experience placements for those aged 16-24 on traineeships will receive a payment of £1,000 per trainee.
New apprenticeships
From 1 August 2020 to 31 January 2021, employers in England will receive a payment of £2,000 for each new apprentice they hire aged under 25, and £1,500 for each new apprentice they hire aged 25 and over. These payments will be in addition to the existing £1,000 payment that the government already provides for new 16-18-year-old apprentices.
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