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Rishi Sunak is set to outline measures today to protect millions of jobs as the furlough work scheme nears its end.
The Chancellor will reportedly unveil his “Winter Economy Plan” in the Commons later today, which could include VAT cuts, wage subsidies and significant loans for businesses have been heavily affected by the coronavirus pandemic.
With the furlough scheme set to finish at the end of October, the Treasury said the chancellor had been “preparing contingency plans over the summer in case the pandemic required it”.
While the specific details of Mr Sunak’s plans are yet to be revealed, the BBC reports that he could unveil a salary top-up scheme, similar to initiatives that are already operating in France and Germany.
It is also thought that firms could be allowed to reduce employees’ hours while keeping them in a job â with the government footing the rest of their wages.
Sunak also announced yesterday that the Autumn Budget will be scrapped due to the pandemic.
Leading music industry figures have called on the Chancellor to include support for the struggling sector in his statement.
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That's why it's imperative that @RishiSunak âs statement today supports our industry.
210,000 people rely on it for employment and without support those jobs are done for. #LetTheMusicPlay #SaveOurVenues
Ace shot by @TrustFox pic.twitter.com/ETXMn3TWr3
— Jay Taylor (@showbody) September 24, 2020
Itâs crucial that @RishiSunakâs statement tomorrow supports live music. 210,000 people rely on clubs, gigs & festivals for employment, but weâll be one of the last sectors to open. The UKâs live music industry is world-beating. Without support, it wonât survive #LetTheMusicPlay pic.twitter.com/Psz00JL3s6
— The FAC (@FeaturedArtists) September 23, 2020
Jay Taylor, a promoter for Manchester’s Night & Day venue, wrote on Twitter: “I’ve spent 6 months talking to North West music venues for @musicvenuetrust, over a hundred of them, and to a venue they’ve been creative, flexible and extraordinarily resilient – but there are limits.
“That’s why it’s imperative that @RishiSunak’s statement today supports our industry. 210,000 people rely on it for employment and without support those jobs are done for.”
The Featured Artists Coalition added: “Itâs crucial that @RishiSunakâs statement tomorrow supports live music. 210,000 people rely on clubs, gigs & festivals for employment, but weâll be one of the last sectors to open. The UKâs live music industry is world-beating. Without support, it wonât survive.”
It comes amid fears that a third of musicians could leave the industry due to financial losses brought on by the coronavirus pandemic.
The research comes from the Musiciansâ Union, who are calling on the UK government to provide greater assistance to those affected within the industry.
The new research states that 34% of musicians are considering abandoning the industry due to losses made during the pandemic, while nearly half of its members already being forced to seek alternative work, and 70% currently doing less than a quarter of their regular work.
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