The summer economic statement 2020

On 8 July 2020 Chancellor Rishi Sunak delivered an economic update to the House of Commons. The update was named ‘a plan for jobs’ and was structured around three pillars: supporting jobs protecting jobs and creating jobs.

In the category of supporting jobs Sunak announced a new policy the jobs retention bonus (to follow on from the coronavirus jobs retention scheme (CJRS)) under which an employer who brings back a furloughed worker and employs them continuously until the end of January 2021 will receive a £1 000 bonus per employee. Throughout the period from the end of the CJRS until the end of January 2021 the employee must earn an average wage above the lower earnings limit for NICs (£520 per month); more details are expected to be published on this in the coming weeks. There...

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