Government to pay 80% of wages for those not working in coronavirus crisis
Source: The Guardian
The government is to pay the wages of millions of workers across Britain to keep them in jobs as the economic fallout from the coronavirus outbreak escalates.
In an unprecedented step for the British government, the chancellor, Rishi Sunak, said the state would pay grants covering up to 80% of the salary of workers if companies kept them on their payroll, rather than lay them off as the economy crashes. The extraordinary payments will be worth up to a maximum of £2,500 per month, just above the median income.
Coming just days after the government announced a business bailout package worth £350bn to help firms cope with the lockdown of large parts of the British economy as the disease spreads, the chancellor described his revamped plan as one of the most comprehensive in the world and “unprecedented in British history”. City economists said the new plan would cost an additional £78bn.
Read more: https://www.theguardian.com/uk-news/2020/mar/20/government-pay-wages-jobs-coronavirus-rishi-sunak
More targetted than paying everyone $1,000 month.
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