[Jersey] Government brings back Co-Funded Payroll Scheme

As a response to the impact of the Omicron variant, Jersey's government has reintroduced the Co-Funded Payroll Scheme (CFPS) and the Fixed Cost Support Scheme (FCSS) for businesses, ITV News reports.

These packages will be available to businesses during December 2021 and January 2022.

Businesses that have experienced a fall in income of more than 20 per cent this month compared to December 2019 will be eligible for the financial support.

Senator Lyndon Farnham - Jersey's Minister for Economic Development, Tourism, Sport and Culture - said, “It is clear that Omicron has affected consumer confidence, and that businesses and livelihoods continue to need support in some sectors. We will maintain support where it is needed, as we have throughout the pandemic.”

Each business can reportedly claim up to £1,250 per worker per month with applications backdated for each month respectively.

The reintroduced schemes will be available on top of the current support packages which include:

* Visitor Attraction and Events Scheme

* Visitor Accommodation Support Scheme

* Fiscal Stimulus Fund

* Deferred Social Security and GST

The estimated cost of the Co-Funded Payroll Scheme is £500,000 per month.

Deputy Susie Pinel - Jersey's Minister for Treasury and Resources - said, “We gave an assurance when we closed the last Co-Funded Payroll Scheme that we would look to reinstate it if circumstances changed. The Omicron variant and public health guidance has meant that some businesses are seeing a downturn in trade and we see the reintroduction of the CFPS for a defined period as an insurance against the unknown factors and potential impact of Omicron.”

The CFPS was initially established in April 2020 to support businesses and islanders through the pandemic by subsidising companies and the self-employed payroll.

Source: ITV News 

(Link and quotes via original reporting)

As a response to the impact of the Omicron variant, Jersey's government has reintroduced the Co-Funded Payroll Scheme (CFPS) and the Fixed Cost Support Scheme (FCSS) for businesses, ITV News reports.

These packages will be available to businesses during December 2021 and January 2022.

Businesses that have experienced a fall in income of more than 20 per cent this month compared to December 2019 will be eligible for the financial support.

Senator Lyndon Farnham - Jersey's Minister for Economic Development, Tourism, Sport and Culture - said, “It is clear that Omicron has affected consumer confidence, and that businesses and livelihoods continue to need support in some sectors. We will maintain support where it is needed, as we have throughout the pandemic.”

Each business can reportedly claim up to £1,250 per worker per month with applications backdated for each month respectively.

The reintroduced schemes will be available on top of the current support packages which include:

* Visitor Attraction and Events Scheme

* Visitor Accommodation Support Scheme

* Fiscal Stimulus Fund

* Deferred Social Security and GST

The estimated cost of the Co-Funded Payroll Scheme is £500,000 per month.

Deputy Susie Pinel - Jersey's Minister for Treasury and Resources - said, “We gave an assurance when we closed the last Co-Funded Payroll Scheme that we would look to reinstate it if circumstances changed. The Omicron variant and public health guidance has meant that some businesses are seeing a downturn in trade and we see the reintroduction of the CFPS for a defined period as an insurance against the unknown factors and potential impact of Omicron.”

The CFPS was initially established in April 2020 to support businesses and islanders through the pandemic by subsidising companies and the self-employed payroll.

Source: ITV News 

(Link and quotes via original reporting)