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Original poster

80% of peoples salary paid is a loan?

52 replies

Hazelnutlatteplease · 23/03/2020 12:53

Just heard this on the grape vine, that the 80% of peoples salary is going to be paid as a loan. does anyone have more info

OP posts:
palacegirl77 · 23/03/2020 12:55

Thats not correct, There is also a business loan available, and also a grant up to 10k. The 80 percent will be funded by the government direct to the workers.

cinammonbuns · 23/03/2020 12:56

No it’s not it is a grant meaning nobody has to repay it

lubeybooby · 23/03/2020 12:59

The government paying 80% of workers salaries is not a loan

it's also backdated

and companies can re-hire anyone they already laid off and receive it

Original poster
Hazelnutlatteplease · 23/03/2020 13:00

Been told by his company that its not a grant but a loan to the company. So the company wont shut them down as it will cost them.

Has anyone any sources to the contrary?

OP posts:
AnyFucker · 23/03/2020 13:00

Untrue

Original poster
Hazelnutlatteplease · 23/03/2020 13:01

Seriously could do with sources here

OP posts:
Whatishappening098 · 23/03/2020 13:01

It's not a loan but guaranteed we will all be paying it back over the next 10 years via increased taxes and service cuts

palacegirl77 · 23/03/2020 13:02

Just go on the gov.uk website or HMRC. All the details are there. That company is talking BS and probably not happy if they have to find the other 20 percent (or much more if staff are paid over 2.5l).

Smurfie12 · 23/03/2020 13:02

the HMRC are paying 80% of employees wages only if they are put into furlough from the company that employe's them but they cannot do any work. It's instead of being laid off.

strawberrylipgloss · 23/03/2020 13:02

He said grant during the press conference.

Redwinestillfine · 23/03/2020 13:06

Is the chancellor a source? He said clearly during his announcement it was a grant

lemonsandlimes123 · 23/03/2020 13:06

Your are wrong. stop scaring people

PristineCondition · 23/03/2020 13:08

It's a grant but yes we will be paying off the corona costs for at least 20 years via tax

Original poster
Hazelnutlatteplease · 23/03/2020 13:13

Not trying to scare people but have a slightly scared friend.

Hes in a really non essential business that requires a lot of travel in and out of london. Theyre still working. Without any restrictions on travel the company cant afford for them not to work and no justification for laying off. So i think that means theres no entitlement to the benefit only to the business loan. Trying to make sense of it for him

OP posts:
NotDisclosedToday · 23/03/2020 13:15

Your grape vine is full of shit.

Xiaoxiong · 23/03/2020 13:20

There are two different parts of support - there are interest free business interruption loans, which are repayable. There is also the 80% salary support for workers who are furloughed. Your friend is mixing these up I think.

Xiaoxiong · 23/03/2020 13:20

Oh and the 80% salary support is a grant.

It's the business who has to apply and sort it all out though, not the employee.

macaroniandpizza · 23/03/2020 13:21

When will people know if they are eligble for the 80% wages paid scheme? I work 15 hrs pw and my boss has had to shut his business due to being classed as high risk and is self isolating for 12wks so i am now unemployed

Original poster
Hazelnutlatteplease · 23/03/2020 13:22

Do you mind not being rude. Hes Trying to make sense of what hes been told by his work and by Boris on Friday. He was almightily relieved he was still going to be able to support his family if work dried up. As he saw it Either work was telling him bullshit or his hero worship of BJ (dont even go there) was misplaced. Thanks to sources on this thread i dont think eithers the case.

Thank you for those who helped

OP posts:
MigginsMrs · 23/03/2020 13:23

It’s not a loan. Do what the rest of us have done and look it up online.

Original poster
Hazelnutlatteplease · 23/03/2020 13:26

@Xiaoxiong
Yes i think he is. That does make sense. Or i think the company have worked out they are not entitled to furlough staff as things stand (they have work, just in areas where the spread is significant) so theyd only be entitled to a loan. Just havent communicated that clearly

OP posts:
Gutterton · 23/03/2020 13:29

So he is still working and being paid 100%?

If his company starts to struggle they can “furlough” his role - he stops work for 3 months and gets paid 80% of his salary up to £2500 / month.