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Payroll co-funding press conference about to begin with @lyndonfarnham and @susie_pinel. Live tweeting as we go in this thread...
•Scheme will continue to March 2021 on a taper-off scale to avoid cliff edge
•Third phase from Sept subject to CoM and Govt Plan approval
•Total scheme estimated to provide £140m in support by next March
•One of most generous in world, more so than UK
•Third phase from Sept subject to CoM and Govt Plan approval
•Total scheme estimated to provide £140m in support by next March
•One of most generous in world, more so than UK
•Scheme currently pays 80% of wages up to £1,600 max monthly
•Will reduce to 60% Sept Oct
•40% Nov Dec
•30% Jan Feb
•20% Mar
•Business will he required to return to ‘broadly normal’ trading patterns
•Will reduce to 60% Sept Oct
•40% Nov Dec
•30% Jan Feb
•20% Mar
•Business will he required to return to ‘broadly normal’ trading patterns
•Guidance for businesses on govt website ‘as soon as possible’
•Continuation will provide confidence to businesses that need it
•Reminder it’s part of wider fiscal stimulus package include £100 gift card for all in Sept and £100 cash earlier this month for poorest
•Continuation will provide confidence to businesses that need it
•Reminder it’s part of wider fiscal stimulus package include £100 gift card for all in Sept and £100 cash earlier this month for poorest
•Jobless figures down from 2,380 in May to 1,760 now
•Emergency support claims from those not eligible for Income Support fell from 310 in May to 120 last week
•We will all move forward together
Onto media questions...
•Emergency support claims from those not eligible for Income Support fell from 310 in May to 120 last week
•We will all move forward together
Onto media questions...
•Currently no plans to extend beyond March but will be reviewed
•If a vaccination comes sooner the scheme could be ended sooner
•Additional fiscal stimulus proposals being considered for hotel accommodation sector, poss also events and visitor attraction sector
•If a vaccination comes sooner the scheme could be ended sooner
•Additional fiscal stimulus proposals being considered for hotel accommodation sector, poss also events and visitor attraction sector
•Important to taper off so businesses don’t get too reliant on it
•Balancing govt books remains key so continuing at 80% unsustainable
•Narrowing sector eligibility was avoided to keep administration simple
•Businesses have to show deteriment of 20% year-on-year to apply
•Balancing govt books remains key so continuing at 80% unsustainable
•Narrowing sector eligibility was avoided to keep administration simple
•Businesses have to show deteriment of 20% year-on-year to apply
•Urging businesses to comply with ‘spirit’ of scheme and not artificially suppress their revenues
•Applications to scheme have gradually reduced month-on-month since April as trading has improved
•Businesses must restructure for the future to cope with change in support
•Applications to scheme have gradually reduced month-on-month since April as trading has improved
•Businesses must restructure for the future to cope with change in support
•If there’s a big second wave, going back to 80% support in future isn’t being ruled out
•Scheme will cost up to £90m by Aug and then £140m by year end (more by next March)
•STAC meet next one to consider move to level 1 which, when happens, will help economy
•Scheme will cost up to £90m by Aug and then £140m by year end (more by next March)
•STAC meet next one to consider move to level 1 which, when happens, will help economy
•Businesses urged to comply with spirit of the system and return to broad businesses as usual when claiming
•To those businesses annoyed at late announcement, ministers say plan was always to announce today
•Gov credit facility (£500m overdraft) hasn’t been used yet
•To those businesses annoyed at late announcement, ministers say plan was always to announce today
•Gov credit facility (£500m overdraft) hasn’t been used yet
•20% deteriment threshold won’t be lowered any more
•£100 gift card for all will be sent to homes on a phased basis from 1 Sept
•Can you spend your £100 on your tax bill? Treasury Minister reckons ‘perhaps’, Deputy Chief Minister evidently cooler, they’ll check
Ends
•£100 gift card for all will be sent to homes on a phased basis from 1 Sept
•Can you spend your £100 on your tax bill? Treasury Minister reckons ‘perhaps’, Deputy Chief Minister evidently cooler, they’ll check
Ends
