People who have recently begun new jobs say that the government’s plan to help businesses hit by coronavirus may treat them unfairly. Under the Coronavirus Job Retention Scheme, a business can choose to furlough workers – that is, keep them on the books but not working and at home. The government will pay 80 per cent of their wages up to £2,500 per month. Companies may choose to top up furloughed employee wages to 100 per cent.
However, to be eligible for furloughing, workers have to have been in employment with the company on February 28th, 2020. New starters say that unfairly leaves out people who happened to be between jobs on that date. It also means that people who have changed jobs since then cannot ask to be furloughed by their new employer.
We hear the experiences and concerns of new starters and employers, alongside Edwin Morgan, director of policy at the Institute of Directors, and employment lawyer Amy Wren of Farrer and Co. Then we put your points to Harriet Baldwin, MP - a Conservative member of the Treasury Select Committee and former economic secretary to the Treasury.
There's an update on the Financial Conduct Authority's proposals for new rules on lending. And on the podcast, happy news from a Money Box-inspired wedding.
Presenter: Felicity Hannah
Producer: Paul Waters
Editor: Hugh Levinson
Coronavirus: Your travel queries answered
In recent weeks the Money Box inbox has been inundated with your queries and questions about travel and holiday issues. So we invited Simon Calder, travel editor at The Independent, to shed some light on some of the most common problems people are facing.
Covid19 - Will insurance cover it?
Wedding plans in ruins, holidays cancelled, business on hold and landlords unable to rent out their properties.
This is exactly the kind of unexpected scenario we buy insurance policies for, but are they written to cover once in a century events like the coronavirus outbreak?
Our panel of experts answer your questions on insurance policies and claims.
Assistance for the self-employed
This week the Chancellor Rishi Sunak announced the Government’s much anticipated help package for the self employed. Only about two thirds of an estimated 6m workforce will gain anything, leaving over a million people without help. We look at the package in more detail, including the changes to benefits and hear top tips for getting paid in a timely manner.
And the banks were quick to promise support for customers in need but are they actually delivering? Money Box listeners tell us their experiences.
Presenter Felicity Hannah
Reporter: Ben Carter
Researcher: Darin Graham
Producer: Alex Lewis
Editor: Emma Rippon
Help for small businesses and the self employed
Announcements from the Government are coming thick and fast about the help available for small business in these difficult times.
An expert panel joins Adam Shaw to discuss and answer your questions on what assistance might be on offer.
We also look at issues facing the self-employed and discuss what support is currently out there for them. Get in touch by email: firstname.lastname@example.org or tweet: @moneybox.
Will Hadwen - rights adviser from Working Families
Sonali Parekh - Head of Policy at the Federation for Small Businesses
Alasdair Hutchison - Policy Development Manager from the Association of Independent Professionals and Self Employed
Producer: Darin Graham
Editor: Emma Rippon