POLICY MATTERS


POLICY MATTERS


During the very height of the Covid-19 crisis and the full lockdown in March and April this year, it was clear that the vast majority of businesses were just concentrating on their survival and adapting to the changed circumstances. Of course, some sectors and


individual firms faced more obstacles than others, with many able to move quickly to an online model whilst others were mandated to close by the Government, facing an anxious wait for reopening. The focus of the Representation section of the Chamber during this time was on the coronavirus and helping our members through the challenges. While Covid-19 has not gone


away we have seen small steps forward, with some industries reopening and measures by the Government to try and boost the economy. This has meant that there is now a chance to look at some other


policy issues affecting firms, while still keeping a firm eye on the consequences of the pandemic. One example is


CHRISTOPHER JONES, the Chamber’s Policy Manager represents your views to the people who matter


THE B-WORD RETURNS


speak to their Chamber of Commerce in order to prepare for the UK leaving the Customs Union. There is clearly a danger that business will not be as well prepared as they could have been in normal circumstances. This summer the Chamber


‘MICHAEL GOVE HAS URGED


FIRMS TO SPEAK TO THEIR


CHAMBER OF COMMERCE’


Brexit. Though many might have had a welcome break from news cycles continually leading on the subject, there are profound changes to the way we will import and export


goods both to Europe and into the UK, that will come into effect at the end of the


year. In the summer


the Government launched it’s ‘Check, Change, Go’ campaign to


help businesses be ready for the end of the transition period, and Michael Gove has urged firms to


started ‘Policy Hour’ meetings joining members with their local politicians starting with leader of Milton Keynes Council Cllr Peter Marland. These virtual meetings gave our members a chance to hear about the current political situation and put any question, not necessarily on the coronavirus, directly to local decision makers. If there is any local politician you would like to hear from in a ‘Policy Hour’, do please let me know.


If you think I can help you with any of the issues raised in the column, or any other matter affecting your business, please do contact me by ringing 01908 547820 or emailing policy@chambermk.co.uk


IS YOUR BUSINESS READY FOR THE END OF FURLOUGH?


The Coronavirus Job Retention Scheme, known as furloughing, will close on 31 October 2020, bringing to an end a policy that has covered over nine million jobs, over one million employers and cost the Government over £30bn. The scope of the scheme has been gradually


reduced, with the level of grant falling each month starting in August.


• For September, the Government will pay 70% of wages up to a cap of £2,187.50 for the hours the employee is on furlough. Employers will pay ER NICs and pension contributions and top up employees’ wages to ensure they receive 80% of their wages up to a cap of £2,500, for time they are furloughed


• For October, the Government will pay 60% of wages up to a cap of £1,875 for the hours the


employee is on furlough. Employers will pay ER NICs and pension contributions and top up employees’ wages to ensure they receive 80% of their wages up to a cap of £2,500, for time they are furloughed.


• In November, the scheme is due to end. No further claims can be made.


With the end of furlough, employers will be able to claim the Job Retention Bonus, a one-off payment of £1,000 for every employee who they previously claimed for, and who remains continuously employed through to 31 January 2021. Eligible employees must earn at least £520 a


month on average between 1 November 2020 and 31 January 2021. Employers will be able to claim the Job Retention Bonus after they have filed PAYE for January and payments will be made to employers from February 2021.


This information is correct at the time of going to print. However, given the changeable nature of the response to the pandemic, the Chamber urges all readers to check for accuracy and not act based on the information contained herewith.


The results of the QUARTERLY ECONOMIC SURVEY for Q3 will be released on 2 October. Participation for Q4 will be open 2– 23 November: please see our website to share your experience and help give an accurate assessment of the challenges businesses are facing in our region.


4 inbusinessOCTOBER/NOVEMBER 2020


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24