The UK Government has extended the Job Retention Scheme until the end of June, following its decision to continue the current phase of the lockdown for another 3 weeks. The Job Retention Scheme is helping to limit the impact of the crisis and helping to secure value employment. The portal for the Coronavirus Job Retention Scheme is now open. Payments to companies are expected to be made within six working days of applications being made.
Some start-up companies amongst our membership have told us that Government schemes announced in recent weeks do not give them the support they require, which we have relayed to Government. Yesterday, the Government announced a £1.25 billion support package to protect firms driving innovation in the UK. In addition, any SMEs who focus on research and development will benefit form £750 million of grants and loans.
We are looking to the future and how we can best work with Government to secure a strong recovery. An early return to flying, strong support for R&D and more strategic use of public procurement will all play a role. If you have any ideas, questions or comments, please feed them in to the ADS COVID-19 team.
For this week’s Coronavirus COVID-19 webinar we will be joined by John Kite from the Ministry of Defence to talk about the Government’s guidance for the defence industry. We will be available for questions at the end of the webinar and I look forward to speaking to you then.
Paul Everitt, Chief Executive, ADS
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