National minimum wage workers and 80% pay

[pawsies]

Does anyone know much about this?

If nmw workers are expected to take home 80% pay then that would bring them under the nmw.

Is that legal? I appreciate having a job still, just trying to muddle through the logistics

There is no way we could afford to top up to 100%, decent business owner does not mean their business has money coming out of their ears. Would be nice yes, but not always possible. Im self employed and under our situation our staff getting 80% would still be more than us getting universal credit, which by the way isnt happening as the demand is to great.

You wont be working if you recieve so it's an enhanced sick pay or benefits. For many, it's way more than sick pay and benefits. Way more than carers get. 66 pound per week for caring for someone for a minimum of 35 hours per week.

@Tonyaster is there a document / link about the cash reserves? We’ve been trying to find out more info but it’s a bit thin :(

Our accounts consultant told us this. I am going to ask him where he got info from

The lack of detail is really poor. I don't expect the portal to be up and running but they could have defined some clearer scheme guidelines by now so businesses could make appropriate decisions. I am concerned it's going to get to late April and a bunch of folk are going to be made redundant because either the detail won't be clear or it will transpire that companies who expect to be eligible aren't for some reason

StatisticallyChallenged

I completely agree. my legal consultants are not ruling out the idea that it will be means tested

I wouldn't rule it out either, although I think they would then struggle operationally to process enough and fast enough.

And businesses are so diverse -how the hell do you decide what a good cash reserve is? There's a reason investment analysts tend to specialise in one sector. Plus seasonal businesses who might have cash reserves but running them down now might mean they just crash later in the year.

Nightmare