UK to require employers to pay 20-30% of furloughed wage cost: The Times
- May 23, 2020 6:31 AM
- Business News
UK to require employers to pay 20-30% of furloughed wage cost: The Times | COSS Exchange
. LONDON The United Kingdom has drawn up plans to require employers to cover 20% to 30% of furloughed employees' wages from August to reduce the vast burden of the coronavirus crisis on government finances, The Times newspaper reported. The United Kingdom on May 12 extended its job retention schemethe centrepiece of its attempts to cushion the coronavirus hit to the economyby four months but told employers they would have to help to meet its huge cost from August. "The Treasury has drawn up plans that would require employers to cover between 20 and 30 per cent of people’s wages," The Times said. "They would also be required to cover the cost of employer’s national insurance contributions, on average 5 per cent of wages."