In a move that will cost the Treasury billions, employees will get two-thirds of their wages, all covered by the taxpayer, in a dramatic expansion of the Job Support Scheme (JSS) due to come in to effect at the start of November.
The scheme will be targeted at all businesses that are forced to close by new local lockdown measures to be introduced under a new traffic light system expected to be unveiled next week. As the Chancellor tore up his Winter Economic Plan he also confirmed he is to increase cash grants for businesses forced to close their doors, increasing the payouts to a maximum of £3,000 a month, payable fortnightly, up from the previous £1,500 maximum every three weeks. The promise of fresh support for jobs comes as the Government prepares to unveil its new three tier strategy for local lockdowns next week. However, the fresh spending announced by Mr Sunak will raise further fears about the pressure on the government finances with borrowing already set to top £300 billion this year.
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