Up to 20% of employers plan on firing staff in
response to the furlough policy change on 1 August, which see’s employers pay
more, a survey has revealed.
The British Chamber of Commerce is calling
for additional training to deal with thousands of redundancies predicted, the
BBC said.
From 1 August, government payments will be
cut to a 60% contribution to salaries, with employers paying 20%.
Based on recent figures up to 30 June, 1.9m
workers were on furlough, down from a peak of 5.1m in January. The government
said 11.6 million jobs have been supported since the Job Retention Scheme
launched in April 2020.
The scheme will close at the end of
September.
The scheme meant that staff whose jobs were
put on hold during the coronavirus pandemic were guaranteed 80% of their
salaries up to government limits.
As the scheme started winding down this year,
the support has being made less generous to ween businesses of government aid. From
1 July, employers have been asked to contribute 10% towards the wages of
furloughed workers for hours their staff do not work, which has now risen to
20% during August and September.
The British Chamber of Commerce surveyed 250
businesses, with 18% saying they were likely to make staff redundant in
response to the change to furlough.
A quarter said they would aim to reduce hours
or move staff to part-time working patterns.
The tourism industry is in turmoil according to
travel experts, which will deprive the UK of billions in revenue.
On a recent visit to two major areas, normal
packed with foreign tourists, I saw mainly British visitors. One guide told me
that numbers were down substantially with hardly any overseas customers.
Restaurants, hotels and bars are all suffering.
Shopping venues like London’s Oxford Street rely heavily on the summer holiday
season with half of sales from foreign visitors.
How will this affect the property market?
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