Sunak’s new jobs scheme will have ‘modest’ cost to UK Treasury

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By Burhan Khadbai
24 Sep 2020

The new jobs support scheme unveiled on Thursday by Rishi Sunak, the UK chancellor of the exchequer, will add a minimal cost to the Treasury’s finances and be much cheaper than the coronavirus furlough package, according to analysts. All eyes now are on how the coronavirus pandemic plays out in the coming months, which could bring a much bigger cost.

The jobs support scheme will contribute to salaries of employees of small and medium-sized companies that cannot take the staff back full time. For eligibility, employees must work at least a third of their contracted hours. The remaining salary costs can be split equally between the employer and ...

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