Job Retention Bonus (JRB)
The £1,000 JRB will not now be paid in February as a result of the CJRS extension. However, the Treasury says it will “redeploy a retention incentive at the appropriate time”.
Additional support measures
Additional measures are also available for businesses and individuals affected by this second lockdown, including:
- Cash grants for closed businesses in England of up to £3,000 a month.
- Extension of the date to apply for a mortgage payment holiday for homeowners, expected to be 31 January 2021, with a new maximum total holiday period of six months.
- One-off payment grants from local authorities.
- An increase of £2bn in guaranteed funding for the devolved administrations.
- Government-backed loan schemes - the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and the Future Fund - have also been extended through to the end of January.
The Financial Conduct Authority (FCA) has published draft guidance across a range of issues which it is set to confirm this week. These include:
- Consumer credit
- Personal loans
- Credit cards
