Coronavirus Job Retention Scheme: Redundancy

Treasury written question – answered on 30th June 2021.

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Photo of Neil Coyle Neil Coyle Labour, Bermondsey and Old Southwark

To ask the Chancellor of the Exchequer, what estimate he has made of the potential number of jobs that will be lost in the event that the Coronavirus Job Retention Scheme is ended before all firms can reopen.

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

In order to help businesses and employees through the next stage of the pandemic, at Budget, the Government extended the Coronavirus Job Retention Scheme (CJRS) until the end of September 2021. This extension is designed to strike the right balance between supporting the economy as it opens up, continuing to provide support and protect incomes, and ensuring incentives are in place to get people back to work as demand returns.

So far, the CJRS has helped to pay the wages of people in 11.5 million jobs across the country, and between the end of January and end of April 2021 1.5 million left the scheme. The Government has been clear, however, that it will not be possible to preserve every job or business, and that it should not stand in the way of the economy adapting, or of people finding new jobs or starting new businesses.

The Government is therefore maintaining its focus on helping people back into work. As part of its comprehensive Plan for Jobs, the Government announced the £2 billion Kickstart scheme which will create hundreds of thousands of new, fully subsidised jobs for young people, and the new three year Restart programme, which will provide intensive and tailored support to over one million unemployed Universal Credit claimants across England and Wales and help them find work.

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