The UK Furlough scheme
Will this government scheme really work? It gives a little support but not enough to cover everything for an average employee.
For me the government has done an awesome job in stimulating the economy and keep the UK economy going during this pandemic.
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Furlough scheme, actually it's called the job support scheme. Furlough was and now it’s the job support but effectively it's a furlough. First of November through to 30th of April so you've got six months where the government will pay the employee’s salary at a lot lower rate, so effectively for the first three months and after three months they'll review it and they may change it. So the staff have to work a third of the time.
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For the other part of it the government will pay a third and you'll the employer will pay a third and effectively the employee will have to subsidise the third. So they won't get their full wage. It's capped at £600 or £700 bucks £697 a month, you know so it's a lot less than two and a half. Will this scheme really work? I think what they're doing is they're trying to get the higher end payers back or made a decision on those, we'll see. I think it's a good scheme I think as long as a business can use it and you know it gives that little bit of support but not enough support to actually make everything go away. As long as it does that then actually that's a good thing.
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The government is doing the right things from my perspective and so far I don't think they've really put a foot wrong on dealing with the Coronavirus. The actual virus side I think you know there's lots to be said about that but in terms of the economy and how to stimulate the economy and keep an economy going actually I'm pretty impressed with that.
Tick to them so far in my books and actually last decade I've been pretty critical of everyone. Not just labor not just you know the coalition but everybody because really it just seemed like they're out there feathering their own nest making silly decisions and not doing what they needed to do, but you know that's it's a good scheme i think and we'll see how it comes out.
Furlough scheme, actually it's called the job support scheme. Furlough was and now it’s the job support but effectively it's a furlough. First of November through to 30th of April so you've got six months where the government will pay the employee’s salary at a lot lower rate, so effectively for the first three months and after three months they'll review it and they may change it. So the staff have to work a third of the time. For the other part of it the government will pay a third and you'll the employer will pay a third and effectively the employee will have to subsidise the third. So they won't get their full wage. It's capped at £600 or £700 bucks £697 a month, you know so it's a lot less than two and a half. Will this scheme really work? I think what they're doing is they're trying to get the higher end payers back or made a decision on those, we'll see. I think it's a good scheme I think as long as a business can use it and you know it gives that little bit of support but not enough support to actually make everything go away. As long as it does that then actually that's a good thing. The government is doing the right things from my perspective and so far I don't think they've really put a foot wrong on dealing with the Coronavirus. The actual virus side I think you know there's lots to be said about that but in terms of the economy and how to stimulate the economy and keep an economy going actually I'm pretty impressed with that. Tick to them so far in my books and actually last decade I've been pretty critical of everyone. Not just labor not just you know the coalition but everybody because really it just seemed like they're out there feathering their own nest making silly decisions and not doing what they needed to do, but you know that's it's a good scheme i think and we'll see how it comes out.
