Not only is the Chancellor’s new job support scheme a positive step for millions of workers otherwise facing unemployment – it goes a step further by encouraging employers to bring these employees back to their jobs, says leading tax and advisory firm, Blick Rothenberg.
Genevieve Morris, a partner the firm said: ‘Rishi Sunak is a breath of fresh air. He is a Chancellor who realises that people with no jobs and businesses with no income, don’t and can’t pay any tax.
‘Rather than see these companies go out of business, or individuals lose their jobs and income and stop paying tax, he continues to support them knowing that ultimately the income tax, national insurance and corporation tax they pay, as well as the VAT they help collect will ultimately benefit the county in a far greater way.’
She added: ‘Not only is new job support scheme a positive step for millions of workers otherwise facing unemployment – it goes a step further by encouraging employers to bring these employees back to their jobs. It has been proved that the mental health benefits to individuals, of working at least eight hours a week is a huge step forward. It allows furloughed employees back into the workplace family and really improve their sense of self-worth.’
Genevieve said: ‘The furlough scheme had to end, and the Chancellor has struck the right balance in continuing to support jobs which are viable long term, but need short term cushioning from the impact of the pandemic.’
She added: ‘I am delighted to hear that the ‘cliff-edge’ that businesses and individuals were facing next year, with the repayments of the CBILs and deferred tax liabilities falling due in Q1, has been removed. This was a daunting thought for many businesses who are facing a bleak winter and will be welcomed by many to help smooth the cash flow demands they face.’
Image credit: Freepik