Job Retention Bonus

Treasury written question – answered on 16th February 2021.

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Photo of Henry Smith Henry Smith Conservative, Crawley

To ask the Chancellor of the Exchequer, if he will reintroduce the Job Retention Bonus at an increased rate of £6,000 per employee retained in the business who have either been fully or part-time furloughed.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

The objective of the Job Retention Bonus (JRB) was to incentivise employers to retain employees between November, when the Coronavirus Job Retention Scheme (CJRS) was due to end, and the end of January through a £1,000 bonus paid to the employer. However, the subsequent extension of the CJRS allowed employers to retain their staff during that period by covering 80% of furloughed employees’ wages. Given this extension to the end of April, the policy intent of the JRB falls away.

The Government remains committed to deploying a retention incentive set at a suitable level, at the appropriate time.

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