Rishi Sunak (@RishiSunak )

Rishi Sunak

Bio Member of Parliament for Richmond (Yorks). Chancellor of the Exchequer. #StayAlert
Tweets 427
Followers 336,1K
Following 136
Account created 03-09-2019 19:25:03
ID 1168968080690749441

Twitter Web App : Its been another busy week at HM Treasury.

In case you missed them, here are some of the biggest stories from the past week.

Twitter Media Studio : 🚨Flexible furloughing is starting one month early and employers will only be asked to start contributing to furloughed salaries from September.

Watch below to see how our eight-month job support scheme is evolving👇

  • Start Video

Twitter Web App : 3/ There will be no changes and no further extensions to the scheme, which continues to be one of the most generous in the world.

Twitter Web App : 2/ Applications will open in August. The second final grant will be paid out in a single installment covering three months’ worth of average monthly profits.

To maintain fairness alongside the job retention scheme the value of the final grant will be 70%, up to a total £6,570.

Twitter Web App : 1/ I know people have been waiting to hear and I understand they have been anxious.

I can confirm today the self-employment income support scheme will be extended.

Twitter Web App : 8/ To introduce this new, flexible furlough from July 1st, we need to close the old scheme to new entrants on June 30th.

Employers wanting to place new employees on the scheme will need to do so by June 10th, to allow time to complete the minimum furlough period before then.

Twitter Web App : 7/ From July 1st, employers will have complete flexibility to decide on the right arrangements for them and their staff.

For instance, your employer could bring you back two days a week. They pay you for the two days and the furlough scheme covers the other three.

Twitter Web App : 6/ HM Revenue & Customs and HM Treasury have worked hard to put the flexible furlough in place not from August 1st, as originally planned, but from July 1st, one month early.

And I’ve decided to provide the maximum possible flexibility, with no central definition of part-time hours.

Twitter Web App : 5/ In October, taxpayers will pay 60%, and employers will contribute 20%.

Then, after eight months of this extraordinary intervention of the government stepping in to help pay people’s wages, the scheme will close.

Twitter Web App : 4/ By September, employers will have had the opportunity to make changes to their workplaces and business practices.

Only then, in the final 2 months of the 8-month scheme, will we ask employers to contribute 10% towards people’s salaries with taxpayers paying the other 70%.

Twitter Web App : 3/ In August, the taxpayer contribution to people’s wages will stay at 80%.

Employers will only be asked to cover National Insurance and employer pension contributions which, for the average claim, accounts for just 5% of total employment costs.

Twitter Web App : 2/ In June and July, the scheme will continue as before with no employer contribution at all.

The government will pay 80% of furloughed people’s wages, up to a maximum of £2,500. At the same time, the Flexible Furlough will start in July, one month early.

Twitter Web App : 1/ Our job retention scheme has now supported more than 8 million jobs and over a million businesses.

Today I announced the final phase of this eight-month scheme. This thread outlines how we’ll introduce flexible furloughing in the coming months.👇

Twitter for Advertisers : We've been working non-stop to protect jobs and support businesses through coronavirus.

TweetDeck : We launched Bounce Back Loans just over 3 weeks ago.

Since then over 600,000 small businesses have received loans worth over £18bn with an approval rate of 79%.

Links to all the lenders: linktr.ee/rishisunak twitter.com/hmtreasury/sta…

Twitter Web App : There are now 80 accredited lenders for the Coronavirus Business Interruption Loan Scheme.

Head here for details of who is eligible and how to apply: gov.uk/guidance/apply… twitter.com/BritishBBank/s…

TweetDeck : Without this, the company wouldnt be in existence

Find out how the #Coronavirus Job Retention Scheme has helped Marco Olmi and Drury Tea & Coffee deal with the economic challenges of the past few months.

  • Start Video

Twitter Web App : Our support schemes continue to deliver for people and businesses up and down the country. The latest figures show:

📊 Over 600,000 Bounce Back loans for small business
🏭 More than 8 million jobs protected with CJRS
✅ 43,000 interruption loan approvals

gov.uk/government/col… pic.twitter.com/Fdn3BXWjD8

iPhone : Great to take the time today to speak to people who’ve used the furlough scheme.

I listened to business owners fighting to stay open and employees raring to return. This week we’ll launch Phase 2: flexible furloughing which I hope will help get us back up and running.