Chancellor unveils COVID-19 recovery plan

In his speech to the House of Commons this afternoon (8 Jul 20), Chancellor Rishi Sunak MP announced the following measures to help businesses recover from COVID-19:

  • Job retention bonus - If workers who have been furloughed are brought back to work and are then continuously employed through Jan 21, earning at least £520pm, employers will receive a £1,000 bonus per furloughed employee;
  • £2bn kickstart scheme - Government will pay the minimum wage, up to 25 hours per  week (and employers are able to top-up wages should they wish to) of any new roles filled by 16-24 year olds;
  • Traineeships - Businesses in England will be given £1,000 for each new traineeship they offer; and
  • Payments for employers who hire new apprentices – Government will introduce a new payment of £2,000 to employers in England for each new apprentice they hire aged under 25, and a £1,500 payment for each new apprentice they hire aged 25+, from 1 Aug 20 to 31 Jan 21. These payments will be in addition to the existing £1,000 payment Government already provides for new 16-18 year-old apprentices.
As and when further information is announced, the RSMA shall make it available to all members.

Please login to view the content

If you’re not a member, then this may be a members only area. When you sign up for RSMA membership, you will have access to the members log on area, which will allow you to view exclusive member documents and information.

Lost your password? Click here

Scroll to Top