News just in is that Rishi Sunak is considering implementing a new subsidy scheme to come into effect when the current furlough scheme comes to an end on the 31st October 2020.
There are two possible proposals which have been put forward.
1. The introduction of a subsidy paid for by the state if employers were able to offer their workers a minimum of 50% of their normal hours, The employer would need to pay the employee for the number of hours that the employee works. For the hours that the employee does not carry out any work, the wages will be split between the employee, employer and Treasury equally. The employer and Treasury would pay a third each and the employee would forgive their third.
2. There has been another scheme which has been proposed by the TUC and they have put forward a scheme whereby workers would continue to receive 80% of their pay for the time that they are not working or 100% if they are receiving minimum wages.
Nothing has been confirmed by the Government, but it may be likely that we will hear some news about this soon.
