AGL 40.18 Increased By ▲ 0.18 (0.45%)
AIRLINK 127.47 Increased By ▲ 0.43 (0.34%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.95 Increased By ▲ 0.51 (1.23%)
DGKC 87.60 Increased By ▲ 0.75 (0.86%)
FCCL 32.73 Increased By ▲ 0.45 (1.39%)
FFBL 65.21 Increased By ▲ 0.41 (0.63%)
FFL 10.30 Increased By ▲ 0.05 (0.49%)
HUBC 109.52 Decreased By ▼ -0.05 (-0.05%)
HUMNL 14.65 Decreased By ▼ -0.03 (-0.2%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.51 Increased By ▲ 0.05 (0.67%)
MLCF 41.70 Increased By ▲ 0.32 (0.77%)
NBP 59.70 Decreased By ▼ -0.71 (-1.18%)
OGDC 193.85 Increased By ▲ 3.75 (1.97%)
PAEL 28.20 Increased By ▲ 0.37 (1.33%)
PIBTL 7.82 Decreased By ▼ -0.01 (-0.13%)
PPL 151.80 Increased By ▲ 1.74 (1.16%)
PRL 26.64 Decreased By ▼ -0.24 (-0.89%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 84.90 Decreased By ▼ -1.10 (-1.28%)
TELE 7.70 Decreased By ▼ -0.01 (-0.13%)
TOMCL 35.35 Decreased By ▼ -0.06 (-0.17%)
TPLP 8.15 Increased By ▲ 0.03 (0.37%)
TREET 16.03 Decreased By ▼ -0.38 (-2.32%)
TRG 52.80 Decreased By ▼ -0.49 (-0.92%)
UNITY 26.37 Increased By ▲ 0.21 (0.8%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,957 Increased By 73.1 (0.74%)
BR30 30,925 Increased By 325.2 (1.06%)
KSE100 93,782 Increased By 426.8 (0.46%)
KSE30 29,055 Increased By 123.7 (0.43%)
World Print 2020-05-24

UK to require employers to pay 20-30pc of furloughed wage cost

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.
Published 24 May, 2020 12:01am

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 extended its job retention scheme - the centrepiece of its attempts to cushion the coronavirus hit to the economy - by four months on May 12, but told employers they would have to help to meet its 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."
A spokesman for finance minister Rishi Sunak declined to comment on the report. Sunak is expected to announce the changes next week, The Times said.
Sunak said on Friday that Britain was facing a "very serious economic crisis" and jobs would be lost in the "days, weeks and months to come".

Copyright Reuters, 2020

Comments

Comments are closed.