“Viable” jobs protected

The 1-minute read to get the money news you need with expert adviser commentary.

Life after furlough

Yesterday, chancellor Rishi Sunak laid out his 6-month post-furlough plan to protect jobs. He’s going to top up wages for workers whose hours have been cut. The government will pay up to 22% of wages for anyone working at least a third of their normal hours. The employer pays the rest. The scheme is intended to protect “viable” jobs that will last beyond the pandemic, and means someone working part time will receive 77% of their usual pay.

Self-employed grants

There’s also support available for self-employed workers. Anyone who was eligible for the grants earlier this year can get two further grants - one in November for 20% of trading profits for 3 months, and another in February.

“Can’t save every job”

The chancellor has admitted the extra measures won’t protect everyone. Businesses which are currently closed, such as nightclubs, won’t be eligible for the support.

Expats cut off

Tens of thousands of Brits living in the EU might lose access to banking services after 31st December. EU rules may force UK banks to cancel the accounts and credit cards of any customer without a permanent UK address.

Start Christmas shopping now

Online retailers are warning shoppers not to leave it until the last minute this year. They’re bracing themselves for huge demand, as online sales continue to grow. Mike Hancox, boss of delivery firm Yodel, admits "it's been like Christmas for the last six months".