UK Government Winter Economy Plan

Chancellor Rishi Sunak has announced a package of measures to support jobs and the economy. This is against a backdrop of rising Covid-19 infections and UK-wide restrictions, with more severe measures in specific hotspots.

For a transcript of the full speech delivered to Parliament click here.

There are also several factsheets:

Loans Scheme Factsheet

Tax Measures Factsheet

Job Support Scheme Factsheet

Self-Employment Income Support Scheme (SEISS) Grant Extension Factsheet 

Job Support Scheme

  • replaces the Job Retention Scheme
  • rather than being made redundant, employees will work on a part time basis: employers pay for the hours worked, while the Government and employer pay a further third each of the remaining hours not worked
    • this will mean employers paying a slightly larger contribution than the hours that an employee works. More information here.
  • all SMEs are eligible, however non-SMEs will be exempt unless their turnover has fallen
  • open to companies who have not previously used the Job Retention Scheme
  • employers who take up the Job Support Scheme can continue to claim the Job Retention Bonus
  • self-employed grant extended on the same conditions as Job Support Scheme
  • the self-employed grant would also be extended to help the self-employed and freelancers

Pay as you Grow

  • bounce-back loans extended from 6 to 10 years, "nearly halving monthly payments"
  • payments can be suspended for up to six months and credit rating unaffected
  • Government will continue to guarantee coronavirus interruption loans for up to ten years
  • deadline for loan applications has been extended to the end of this year
  • a successor loan programme will begin in January
  • businesses can spread their VAT bill over eleven smaller repayments with no interest


  • will remain at the current rate until no sooner than 31 March 2021