robbryanassociates

Spring Budget update

In Uncategorized on March 8, 2021 at 12:35 pm

Last week the Chancellor announced this year’s budget. We highlight the key points from the HR perspective below:

Furlough

  • Extended to the 30th September 2021.
  • Employees will continue to receive 80% of wages (up to the set maximum). This will be funded in full by the government until the end of June.
  • From July the government will start reducing its contribution. Businesses will need to contribute 10% from July and 20% from August.

Sick Pay

  • For businesses with less than 250 employees, 2 weeks Statutory Sick Pay can still be claimed from day 1 for anyone off sick or instructed to isolate and unable to work due to Covid-19. There was no mention of this being withdrawn.

National Minimum Wage

  • Increased to £8.91 ph from 1st April. (For a full table of updated statutory rates see our newsletter)

Apprenticeships and Kickstarter

  • Incentives raised for businesses taking on apprentices.
  • Kickstarter scheme enabling businesses to hire a long term unemployed 16 – 24 year old. The Government will fund up to 25 hours a week at National Minimum Wage for 6 months.

Training and Recruitment

Enrolment for two new training schemes will  open soon:

  • Help to Grow Management –management training with mentoring and with the Government covering 90% of the cost; and
  • Help to Grow Digital – offering small firms free training and 50 per cent discount on software.

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