UK unveils back-to-work bonus scheme and restaurant discounts for all citizens

Posted by Carolina Plugaru on

U.K. Finance Minister Rishi Sunak

(Source: CNBC)

U.K. Finance Minister Rishi Sunak has announced a back-to-work bonus scheme for businesses bringing furloughed employees back to work, and a 50% restaurant discount for all citizens through the month of August.

In a de-facto “mini-budget” unveiled Wednesday, Sunak told the House of Commons that the jobs retention scheme, which has subsidized wages for 9.3 million furloughed workers, will be tapered down to end in October. Businesses will receive £1,000 ($1254.55) bonuses per furloughed worker retained through January earning at least £520 per month.

Ahead of Wednesday’s update, economists had warned that ending the furlough scheme in October would give rise to a much-feared unemployment crisis. However, Sunak claimed the scheme “can’t and shouldn’t go on forever” and labeled calls for a further extension to the furlough scheme “irresponsible.”

Read more on CNBC

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