Businesses will be paid a £1,000 bonus for every furloughed employee they bring back to work.
In addition, under a £2 billion ‘Kickstart Scheme’ of job placement support, the wages of people aged 16-24 that are claiming Universal Credit and at risk of long-term unemployment will be subsidised. Funding available for each six-month job placement will cover 100% of the national minimum wage for 25 hours a week, and employers will be able to top this wage up.
However, businesses hiring fewer than 30 people under the scheme have to pool together with other SMEs to create a batch of 30 roles.
A spokesperson for the Department for Work and Pensions said: “They [small businesses] can still apply for funding but must partner with other employers or organisations in order to create a minimum of 30 jobs before applying. This can include similar employers, local authorities, trade bodies, Chambers of Commerce and charities. If you need help finding a representative or other employers to bid with, speak to your local Jobcentre.”
In a separate initiative, until January, the Government will give companies £2,000 for each new apprentice they hire under the age of 25, and £1,500 for apprentices aged 25 and over. These payments will be in addition to the existing £1,000 payment the Government already provides for new 16-18 year-old apprentices, and those aged under 25 with an Education, Health and Care Plan.Published Date: September 7, 2020