UK Gov and Bank of England Join Forces To Support Economy

NTD Newsroom
By NTD Newsroom
November 6, 2020NTD Businessshare

Treasury Chief Rishi Sunak announced on Nov. 5 that the government is extending its salary support program.

The move will be a relief to employers and employees in firms that have had to close as a result of the heightened restrictions.

The Bank Of England will also pump $196 billion worth of cash into the economy.

The scheme means the government will pay 80 percent of wages for people retained by firms. This avoids layoffs. Self-employed workers will also be provided grants as well.

Anyone who was on payroll and laid off since Sept. 23 can be re-employed and benefit from the scheme.

ntd newsletter icon
Sign up for NTD Daily
What you need to know, summarized in one email.
Stay informed with accurate news you can trust.
By registering for the newsletter, you agree to the Privacy Policy.
Comments