On March 20, 2020 UK Chancellor of the Exchequer Rishi Sunak announced about large aid for UK business and employees.
This is video with full announcement:
Here are some important citation from this announcement:
“<..>Today I can announce it for the first time in our history the government is going to step in and help to pay people’s wages. We’re setting a new coronavirus job retention scheme.
Any employer in the country. Small or large, charitable or non-profit will be eligible for the scheme. Employers will be able to contact HMRC for a grant to cover most of the wages of people who are not working but are furlough and kept on payroll rather than being laid off.
Government grants will cover 80% of the salary of retained workers up to a total of 2,500 pounds a month. <..> Scheme will cover the cost of wages back dated to March 1st and will be open initially for at least three months<..>”
“<..>I can announce today that the coronavirus business interruption loan scheme will be interest-free for 12 months<..>”
“<..>I am also announcing today further cash flow support through the cash tax system to help businesses pay people and keep them in work I am deferring the next quarter of VAT payments. That means no business will pay no VAT from now until the end of June. And you’ll have until the end of the financial year to repay those bills<..>”
“<..>That is a direct injection of over 30 billion pounds of cash to businesses equivalent to 1.5% of GDP<..>”
