The Government’s Coronavirus Job Retention Scheme has gone live today, which allows businesses to furlough their staff during the crisis. Employers can obtain a cash grant for their staff of up to 80% of their wages, capped to a maximum figure of £2,500 per worker per month.
Rishi Sunak, the Chancellor of the Exchequer, said in a statement:
“Our unprecedented job retention scheme will protect millions of jobs across the country and is now up and running. It’s vital that our economy gets up and running again as soon as it’s safe – and this scheme will allow that to happen.”
The Government said that they received 67,000 applications in the first thirty minutes of the scheme going live, with 5,000 HMRC staff available to offer assistance on-line and another 4,500 staff by phone.