In March, the British government had rolled out a wage subsidy scheme wherein employees who had been temporary rendered jobless due to the pandemic and lockdown would receive 80 per cent of their pay. With England going into lockdown yet again, this subsidy has now been extended. Organisations will have to pay 5 per cent of the employment cost of the employees as their contribution.
In the last eight odd months, the subsidy, which brought relief to about 8.9 million workers, cost the Government about £52 billion ($67.28 billion). The extension, however, will not be as generous.
Various businesses properties and households that were forced to close owing to the pandemic will receive grants of up to £ 3,000 ($3,881) per month. This is part of the mortgage payment holiday programme. Those who have been unable to pay their mortgages can now enjoy a six-month break.
With the number of COVID-19 cases rising to cross the one million mark, the UK has announced a lockdown yet again. The country is reporting over 20,000 new cases of infection on a daily basis. The lockdown will last till December 2. People will be allowed to venture out only to buy essential items and medicines, or if they have to care for the elderly. People will also be allowed to go out for education purposes, work or exercise. This second lock-down announcement led to the revival of the wage subsidy.
