Government will step in and help pay wages

To protect jobs, the chancellor announces that the government will step in and help pay wages, for the first time in UK history. It’s called the coronavirus job retention scheme.

Companies and organisations will be able to apply for a grant from HMRC to cover the wages of people who are not working due to coronavirus shutdowns, but who haven’t been laid off.

It will cover 80% of the salaries of these retained workers, up to £2,500 per month.

The scheme, open to any employer in the country, will cover the cost of wages backdated to March 1st and will be open before the end of April for at least 3 months.

Further details to follow and confirm applicable to Scotland.