Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

Up to 20% of employers plan on firing staff in response to the furlough policy change on 1 August, which see’s employers pay more, a survey has revealed. The British Chamber of Commerce is calling for additional training to deal with thousands of redundancies predicted, the BBC said. Watch video version. From 1 August, government payments will be cut to a 60% contribution to salaries, with employers paying 20%. Based on recent figures up to 30 June, 1.9m workers were on furlough, down from a peak of 5.1m in January. The government said 11.6 million jobs have been supported since the Job Retention Scheme launched in April 2020. The scheme will close at the end of September. The scheme meant that staff whose jobs were put on hold during the coronavirus pandemic were guaranteed 80% of their salaries up to government limits. As the scheme started winding down this year, the support has being made less generous to ween businesses of government aid. From 1 July, employers have been asked to contribute 10% towards t