Jersey's co-funded payroll scheme to be extended until March 2021

Jersey's Government has announced that it is extending its scheme supporting Jersey businesses through the pandemic.

The scheme, which was introduced in April, was due to end on 31 August, but will now run until March 2021.

From September the amount of support businesses get from Government will be gradually reduced.

As well as extending the scheme, the Government is also lowering the threshold for support from 30% to 20%. This means businesses will only need to show a 20% reduction in income to qualify for support.

From August businesses claiming on the scheme will be asked to return to a broadly normal trading patterns, and will not be allowed to remain closed if it is safe to open.

The scheme will have cost an estimated £93 million by the end of August and the gradual tapering of the scheme until March next year will cost approximately another £26-£53 million.

The whole scheme is estimated to cost between £108 million and £137 million.

The Government subsidy will be gradually reduced from September through to March:

Jersey's Government says it will continue to monitor the co-funded payroll scheme and will amend the scheme if a change in the prevalence of coronavirus in Jersey impacts on public health restrictions and associated trading.