![[Guernsey] Payroll co-funding scheme reinstated](http://gpa.net/cdn/shop/articles/bigstock-View-of-the-Saint-Peter-Port-a-112199435_1200x.jpg?v=1612277925)
The payroll co-funding scheme will be reintroduced for businesses in Guernsey during the second lockdown, ITV News reports.
The Chief Minister announced new the economic measures at a January 26 press conference. The majority of Guernsey’s businesses have been forced to close since the lockdown was announced last weekend.
Additionally, the Hardship Fund will return for islanders in need of urgent financial assistance.
Payroll co-funding scheme
The list of eligible businesses will be very similar to the first lockdown, the scheme is intended for those who are heavily restricted during this period.
Businesses that apply will receive 80 per cent of the minimum wage (£8.70 per hour) for their employees; capped at 42 hours a week. Employers will be required to top up the remaining 20 per cent.
The scheme will also be open to sole traders and the self-employed.
Claims can be submitted from February 1 for the period commencing 23 January.
The States of Guernsey estimate the support will cost £2.5 million per week. The Chief Minister has asked businesses who can survive without support not to apply.
The Hardship Fund
The £250,000 hardship fund will be reinstated for people who are struggling financially but may not be eligible for standard benefit support.
The Policy & Resources Committee reportedly say they are optimistic that businesses will be able to bounce back after a short, sharp lockdown.
Deputy Mark Helyar - Treasury lead for the Policy & Resources Committee - said, We need to help many businesses cope with not being able to trade, for the sake of them and their employees and for the wider economy. At the same time, we’re saying to businesses that bounced back from the previous lockdown, and expect to do so again this time, to think hard about whether they really need support through this scheme before making a claim.”
Help and advice with applications for the co-funding payroll scheme and the hardship fund can be found on the States of Guernsey website.
(Link and quote via original reporting)
The payroll co-funding scheme will be reintroduced for businesses in Guernsey during the second lockdown, ITV News reports.
The Chief Minister announced new the economic measures at a January 26 press conference. The majority of Guernsey’s businesses have been forced to close since the lockdown was announced last weekend.
Additionally, the Hardship Fund will return for islanders in need of urgent financial assistance.
Payroll co-funding scheme
The list of eligible businesses will be very similar to the first lockdown, the scheme is intended for those who are heavily restricted during this period.
Businesses that apply will receive 80 per cent of the minimum wage (£8.70 per hour) for their employees; capped at 42 hours a week. Employers will be required to top up the remaining 20 per cent.
The scheme will also be open to sole traders and the self-employed.
Claims can be submitted from February 1 for the period commencing 23 January.
The States of Guernsey estimate the support will cost £2.5 million per week. The Chief Minister has asked businesses who can survive without support not to apply.
The Hardship Fund
The £250,000 hardship fund will be reinstated for people who are struggling financially but may not be eligible for standard benefit support.
The Policy & Resources Committee reportedly say they are optimistic that businesses will be able to bounce back after a short, sharp lockdown.
Deputy Mark Helyar - Treasury lead for the Policy & Resources Committee - said, We need to help many businesses cope with not being able to trade, for the sake of them and their employees and for the wider economy. At the same time, we’re saying to businesses that bounced back from the previous lockdown, and expect to do so again this time, to think hard about whether they really need support through this scheme before making a claim.”
Help and advice with applications for the co-funding payroll scheme and the hardship fund can be found on the States of Guernsey website.
(Link and quote via original reporting)
