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ARTICLE · 07 OCTOBER 2020

Job Retention Bonus

Gilson Gray
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As discussed in our recent blog, Rishi Sunak, Chancellor of the Exchequer, announced on 24th September the proposed follow-up arrangement to the Job Retention Scheme.

United KingdomEmployment and HR
Stuart Robertson
Stuart Robertson

As discussed in our recent blog, Rishi Sunak, Chancellor of the Exchequer, announced on 24th September the proposed follow-up arrangement to the Job Retention Scheme. At the time he expressed hope that the new arrangement would prevent the predicted flood of redundancy dismissals when the furlough scheme was closed.

In accordance with the practice which has been followed during the Covid-19 response, the detail of the new scheme is now being revealed.

The Government has issued guidance on the financial incentive for employers to make use of the Job Retention Bonus Scheme and retain employees.

In summary, the guidance is in line with what has been anticipated. The main points are as follows:-

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