Government to subsidise the wages of half of Jersey’s workforce

Jersey’s government has announced further support for workers caught up in the coronavirus pandemic.

Up to 80% of wages of half the workers in Jersey could be paid by the government, as part of a new £100m plan to avoid mass job losses.

A maximum of £1,600 per month will be paid from the taxpayer purse, but not all sectors of business will be eligible to claim.

Financial services and property development will be excluded from the scheme, and the full list of who can and cannot benefit will be published on Friday.

The package will be funded by additional government borrowing and is in addition to previous announcement of deferred Social Security and GST bills for businesses, and a scheme by the government to underwrite bank loans.

The wage subsidy scheme will begin on 1 April.

Jersey's Chamber of Commerce welcomed the announcement, though added it had been too slow in coming, and that it would be looking closely at the detail of the package when it is published.

The announcement was made jointly by the Economic Development Minister, Senator Lyndon Farnham, and the Assistant Treasury Minister, Senator Ian Gorst.

During the same press briefing, the Social Security Minister, Deputy Judy Martin, announced a limited Income Support scheme would be made available to islanders who've lived in Jersey for less than five years, who'd ordinarily be exempt from claiming.

She added she was considering helping under 25s with their rent if they feel into financial difficulty. They, too, would ordinarily not receive such support.