The Chancellor of the Exchequer Rishi Sunak is preparing to wind down the Furlough scheme as the infection rate of the virus has significantly dropped. It is expected that in the coming weeks the lockdown would be lifted and the furlough scheme would end. Over 6 million employees in the Uk are said to have received 80% of their salary from the government. This have proved popular has it has saved jobs that would have otherwise been lost and it has also mitigated the financial constraints low earning workers would have had to suffer. But as the economy prepares to return to normal, the chancellor said “anyone anxious about this I want to reassure them that there will be no cliff edge to the furlough scheme. I am working to figure out the best way to ease people back to work in a measured way”. The scheme is thought to have cost the government £42 billion. More bad news awaits workers who may find out they no longer have a job once the scheme ends.
Covid-19 Grants for Local Businesses
The Scottish Government through local councils have made provision for local businesses to apply for grant of £10,000 or £25,000. Businesses in Moray environs can make application online. An application form can be completed online here http://www.moray.gov.uk/downloads/file132681.pdf
The form which sets out the qualifying criteria is interactive and can be completed electronically. Successful application will be paid within 10 days of receipt. The grant is to mitigate business who are experiencing significant stress due to the pandemic.
Toyota to invest £240m in UK
The news about Toyota’s new investment gives a massive confidence boost to the car industry in the U.K. Before now and shortly after the Brexit vote, there have been rumours about some of the biggest car makers suspending further investment in the U.K. Let’s hope other car manufacturer giants take a cue