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1/ I’m introducing a new grants scheme for businesses impacted by Tier 2 restrictions, even if they aren’t legally closed.
I’m providing enough funding to give every business in hospitality, leisure & accommodation a grant worth up to £2,100 every month Tier2 restrictions apply.
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In businesses legally required to close, as I’ve already announced, employers will pay people two thirds of their normal salary where they can’t work for a week or more; and the government will cover 100% of those costs.
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We're making the Open Job Support Scheme more generous to protect jobs during lower demand.
- Government now pays at least 62% for hours not worked
- Employer contribution cut from 33% to 5%
- Employees now take home at least 73% of pay for working a new minimum 20% of hours
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We're doubling self-employed grants from 20% to 40%, meaning the maximum grant will go up from £1,875 to £3,750.
Grants are available for all self-employed people (all tiers) who've stopped trading or have a significant fall in trade, with two further payments to come.
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Today we go further.
Read more about the significant increase in the generosity and reach of our winter support schemes here: gov.uk/government/new…
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On 25 November I will deliver the 2020 Spending Review alongside the OBR forecast, setting out spending plans for the next year so we can continue to prioritise our response to Covid-19 and protect jobs. #PlanForJobs
gov.uk/government/new…
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Enjoyed speaking with India's Finance Minister @nsitharaman today.
Already over 800 Indian companies in the UK employ more than 110,000 people – and by strengthening economic ties between UK & India, we can create and secure even more jobs.🇬🇧🇮🇳 gov.uk/government/new…
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🗓️The Job Support Scheme begins on 1 November.
🗒️Guidance for the scheme is available now: gov.uk/guidance/check…
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Following the PM’s announcement on further restrictions across the country we have decided to extended the furlough scheme for a further month covering 80% of employees’ wages.
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Read more about today's announcement here 👇 twitter.com/hmtreasury/sta…
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🆕Mortgage payment holidays will no longer end on 31 October.
Borrowers impacted by COVID who haven't had a mortgage holiday will be entitled to a 6-month break.
If you've already started a mortgage holiday you can top up to 6 months without it being recorded on a credit file. twitter.com/TheFCA/status/…
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In Wales🏴alone:
We've provided an additional £4.4bn to help with COVID.
We're protecting over 68,000 jobs with a peak of 378,400 in June.
Helped 82,000 self-employed people.
Backed 48,000 Bounce Back Loans.
@hmtreasury is, has and will always be for the whole of the UK. twitter.com/SkyNews/status…
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1/ We're increasing the support to the self-employed from 40% of trading profits to 80% for November.
SEISS is calculated over 3 months so this increases the total grant from 40% to 55% of trading profits for November to January and the max grant increases to £5,160.
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To help more businesses access additional support, deadlines for applications to our government-backed loan schemes and the Future Fund have been further extended until 31 January 2021.
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More businesses can now benefit from our Bounce Back Loan scheme.
The deadline for applications has been extended to the end of January, while firms can top-up existing Bounce Back Loans if they need additional finance.
Read about today’s changes here: gov.uk/government/new…
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To give people across the UK certainty over the winter, I can announce today that the furlough scheme will not be extended for one month – it will be extended until the end of March.
Employees will receive 80% of their usual salary for hours not worked, up to £2,500 a month.
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We’re increasing the support for millions more workers through the Self-Employment Income Support Scheme.
The third grant covering November to January will now be calculated at 80% of average trading profits, up to a maximum of £7,500.
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The upfront guaranteed funding for the devolved administrations is increasing from £14bn to £16bn.
This Treasury is, has been, and will always be, the Treasury for the whole of the United Kingdom.
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Taken 32 years but worth the wait.
Now let’s hope it lasts 😬
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I was honoured to be at the Cenotaph this morning to show my gratitude for the brave men and women who sacrificed so much in the service of their country.
You will never be forgotten. #RemembranceSunday
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We’ll publish a consultation to ensure new privately-issued currencies, stablecoins, meet the high standards we expect of other payment methods.
And the @bankofengland & Treasury are considering if central banks can issue their own digital currencies, as a complement to cash.
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The UK will, subject to market conditions, issue our first ever Sovereign Green Bond next year.
This will be the first in a series of new issuances, as we build out a “green curve” over the coming years helping to fund projects to tackle climate change and create green jobs.
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Enjoyed visiting a @Tesco distribution centre in Erith with @BorisJohnson today.
They've worked around the clock to keep shelves stocked, supply chains resilient and food delivered. Now they’re hiring 16,000 new permanent roles to support the growth in online shopping.
Prime Minister of the United Kingdom 🇬🇧
@Conservatives leader.
MP for Richmond (Yorks).