UK extends 80% wage subsidies as England goes back into lockdown


Reuters | London | Updated: 01-11-2020 01:00 IST | Created: 01-11-2020 00:41 IST
UK extends 80% wage subsidies as England goes back into lockdown
Britain introduced the 80% wage subsidy scheme in March and it had been due to expire on Saturday to be replaced with more targeted support. Image Credit: PxHere
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Britain's government will extend its emergency coronavirus wage subsidy scheme to ensure workers who are temporarily laid off during a new England-wide lockdown receive 80% of their pay, Prime Minister Boris Johnson said on Saturday.

Britain introduced the 80% wage subsidy scheme in March and it had been due to expire on Saturday to be replaced with more targeted support.

The scheme supported 8.9 million jobs at its peak and had been forecast to cost around 52 billion pounds ($67.28 billion) over its eight-month lifespan. ($1 = 0.7729 pounds)

 

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