AT A GLANCE

JOBS SUPPORT SCHEME

A form of wage subsidy for ‘viable’ jobs, it will replace the furlough scheme, which will be wound down.

A worker doing a third of their hours will be paid for these by their employer as usual. On top of that, they will receive two-thirds of the remainder of their wages, half from the employer, and half from the State. In total, the Treasury says this means workers will get 77 per cent of their usual pay.

It is far less generous than furlough – the State will pay a maximum of 22 per cent of a wage, rather than 80 per cent.

It will also see employers paying out more in wages than the hours they get.

All small and medium businesses will be eligible for the scheme, which starts in November and runs for six months, but larger businesses will have to prove their profits have been hit.

SELF-EMPLOYMENT INCOME SUPPORT GRANT It will be renewed but on starkly less generous terms.

* People will receive just 20 per cent of their usual profits - compared to 80 per cent at the height of the crisis.

HELP FOR HOSPITALITY AND TOURISM

The temporary reduction of VAT rates from 20 per cent to 5 per cent for these sectors will be extended for a further two months.

It will now last until the end of March 2021.

HELP FOR SMALL BUSINESSES

The Government’s bounce-back loans will have a ‘pay-as-you-grow’ element.

This gives firms ten years rather than six to repay the money, slashing monthly repayments by almost half.

Those struggling to repay bounce-back loans will be able to make interest-only payments and those in real trouble will be permitted to suspend repayments for up to six months.

The deadline for taking out a coronavirus business interruption loan extended until November 30.