ANALYSIS

THE Government’s support throughout the lockdown so far has been a lifeline for businesses, employees and the self-employed.

The changes announced by the Chancellor will help ensure those schemes stay effective as we begin a cautious recovery.

We cannot overstate the role of these schemes over recent months.

Just look at the US, where the jobs market has collapsed with more than 40 million new benefit claims since the start of the crisis.

The sheer scale of what’s been achieved by the Job Retention scheme in particular is unprecedented.

Around 8.4 million workers have been covered, one million businesses involved and £15 billion claimed.

It has helped your local hairdresser, pub, even zoos keep going – everyone from your high street to the Square Mile.

This is why as support tapers off it must be done carefully. From July, firms can furlough staff on a part-time basis, a great help as there may not yet be enough demand for some workers to return full-time.

The Government will top that up to a maximum of £2,500 as before.

From August, employers gradually pay more of the costs each month. What this means is business plays its part and we protect jobs – it’s that simple. We firmly believe that business wants to put its shoulder to the wheel and help their employees and customers through these tough times.

All schemes must be kept under regular review to help minimise the impact of Covid-19 on people’s livelihoods and keep businesses thriving.