Chancellor Rishi Sunak has announced a series of measures to help kick start the economy, with the following likely to be of interest to co-ops.
The Job Retention Bonus provides a one-off payment of £1,000 to UK employers for every furloughed employee who remains continuously employed through to the end of January 2021. The intention is to reward and incentivise employers who keep on their furloughed employees.
The Eat Out to Help Out scheme and temporary VAT cut for food and non-alcoholic drinks, could be very relevant to our members who run pubs, cafes and restaurants. Customers get 50% off meals eaten out on Mon-Weds during August up to £10 per head. Participating co-ops need to register and a website opens on Monday 13 July.
Our members may be interested in offering young people 6-month work placements through the Kickstart Scheme. Funding for each job will cover 100% of the relevant National Minimum Wage for 25 hours a week, plus the associated employer National Insurance contributions and employer minimum automatic enrolment contributions.
There is new funding and anticipated changes in Job Centres and the National Careers Service. We’ve written to the Secretary of State for the DWP, Therese Coffey MP to remind her of the benefits of co-operative enterprise and to urge her to ensure that co-op options are included in new enterprise advice.