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Kamis, 30 September 2021

End of furlough: More than 700000 people may lose jobs, hours or earnings - The Times

More than 700,000 people may lose their jobs, hours or earnings with today’s end to the furlough scheme, analysis suggested as Rishi Sunak announced a £500 million fund to help struggling families deal with rising bills this winter.

Despite higher than expected growth figures between April and June announced by the Office for National Statistics, growth figures for the rest of the year are expected to be lower, and the Treasury’s decision to wind up the furlough scheme will add to economic pressures.

The coronavirus job retention scheme, announced in March 2020 as Britain went into national lockdown, ensured the payment of 9.7 billion hours of work, according to estimates by the New Economics Foundation (NEF). The scheme was initially scheduled to end on April

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2021-09-30 17:00:00Z
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Energy regulator Ofgem puts advisers on standby for emergency rescue role - Sky News

The energy regulator has put a firm of City advisers on standby for the emergency rescue of a major supplier amid the crisis which has engulfed the sector in recent weeks.

Sky News has learnt that Ofgem has retained Teneo to act as special administrator in the event that the customers of a failed energy company cannot be passed on to a rival through its Supplier of Last Resort (SOLR) system.

Energy company executives said that Teneo had been drafted in to advise Ofgem on the spate of collapses in the last fortnight, which have affected roughly 1.7 million British households.

The need for a special administrator has yet to materialise, but there is an expectation in the industry that the failure of a larger supplier would require a special administrator to oversee it on a temporary basis.

Under a regime established in 2017, a special administrator would have an obligation to consider the interests of consumers as well as creditors, meaning that Teneo's role would differ from that of a conventional corporate insolvency.

This week, three more smaller suppliers - Igloo, Symbio and Enstroga - announced that they were ceasing to trade, with their 225,000 customers expected to be reassigned through the SOLR process in the coming days.

Last week, Octopus Energy and Shell Energy Retail were handed the customers of Avro Energy and Green Supplier respectively following their collapses.

Further insolvencies are anticipated in the coming weeks.

Bulb Energy, which supplies roughly 1.7 million households, is working with advisers on raising fresh funding, with Sky News revealing last weekend that Octopus Energy was among the companies which have requested access to its financial information.

A spokeswoman for Ofgem declined to comment specifically on Teneo's work, but said: "Ofgem and government prepare for a wide range of scenarios and have long standing contingency plans in place for any situation as needed.

"These processes include speaking to a range of organisations."

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2021-09-30 09:23:11Z
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Is your Virgin Money branch closing? 31 sites axed - This is Money

Virgin Money has announced it is shutting 31 bank braches and axing around 112 jobs as it looks to move more of its operations online.

Among others, branches in Beverley, Blackburn, Lincoln, Macclesfield, Nuneaton, Whitby and Wick are all due to close.

Bosses said the move comes as more customers switched to online banking during the pandemic.

Closures: Virgin Money has announced it is shutting 31 bank braches and axing around 112 jobs

The company said 28 of the 30 customer-facing branches closing were located less than a third of a mile away from the nearest post office, and the final two sites had a post office less than a mile away or another Virgin Money store nearby.

A further site in Gosforth was already a staff-only site and this will also close.

It said: 'Customers can use Post Offices for day‐to-day banking, including cash deposits and withdrawals, cheque deposits and balance enquiries, as well as coin exchange.'

Virgin Money branches closing

Here is a list of the Virgin Money bank branches set to close early in 2022:

– Airdrie
– Grantham
– Northallerton
– Ashton-Under-Lyne
– Keighley
– Newcastle, Northumberland St
– Banchory
– Leeds, Horsforth
– Nuneaton
– Beverley
– Leeds, White Rose
– Oban
– Blackburn
– Lincoln
– Portree
– Broughty Ferry
– Macclesfield
– Selby
– Chesterfield
– Mexborough
– Sheffield, Meadowhall
– Cumbernauld
– Milngavie
– Stenhousemuir
– East Kilbride, Princes Square
– Musselburgh
– Whitby
– Galashiels
– Nelson
– Wick

Source: Virgin Money UK

Written notification will be sent to customers and posters will be displayed in each affected store at least three months before they close, providing details on the alternative ways customers can continue to manage their accounts, including nearest alternative stores, ATMs and Post Office counters.

The stores will shut their doors for the final time early next year and bosses said they hope to find alternative roles for affected staff. A total of 131 branches will remain.

But the company admitted not all workers will be able to stay, with around 112 full-time equivalent roles expected to be axed.

Fergus Murphy, group customer experience director at Virgin Money, said: 'As our customers change the way they want to bank with us and conduct fewer transactions in-store, we must continue to evolve the role of our stores into places where we showcase our products and bring our digital services to life.'

The group said the number of customers using bank branches for day-to-day transactions had been dwindling across the banking industry for a number of years, and this has been further accelerated by the pandemic.

Virgin Money added the decision on each site was based on location, usage, proximity to alternative stores and lease arrangements.

As a result of the closures, the group said it will take a £25million restructuring charge in the fourth quarter.

Critics to mass bank branch closures claim they hit the elderly and vulnerable hardest, leaving many forced to travel long distances to carry out basic banking tasks.

Going: Virgin Money branches in Beverley, Blackburn, Lincoln, Macclesfield, Nuneaton, Whitby and Wick are all due to close

Virgin Money claimed it was also trying to give its staff greater flexibility around working patterns and location. It said the shift meant it would have 'lower office space requirements, with infrastructure and office hubs re-purposed to fit new ways of working.'

The bank said it was also working to move its IT operations to cloud-based systems, to 'enable agile delivery, increasing the pace of change and delivering efficiency benefits over time.'

Caren Evans, Unite national officer, said: 'Unite has serious concerns about the implications this branch closure decision has on staff and also the communities they currently serve.

'The union is worried that there are approximately 24,000 customers based across these branches that are classed as vulnerable, all of whom will need to be directly contacted by the branch colleagues. This is a massive undertaking on an already pressurised network.'

According to consumer group Which?, 4,299 branches of banks and building societies have closed, or have been scheduled for closure; since January 2015, at a rate of around 50 every month.

Which? said The NatWest Group, which comprises NatWest, Royal Bank of Scotland and Ulster Bank, shut 1,086 branches during this period.

Lloyds Banking Group, made up of Lloyds Bank, Halifax and Bank of Scotland, shut down 680 sites. Barclays is the individual bank that has reduced its network the most, with 650 branches closed, or scheduled to, by the end of this year.

In March, Santander announced it would close 111 branches up and down the country by the end of August this year.

The Spanish-owned lender said the 'majority' of branches being axed were under three miles from another Santander branch, with the furthest being five miles away.

It said that all of the 111 closing branches were within half a mile of at least two free-to-use cash machines.

Branches in New Malden, Marlow, Leatherhead, Sale, Surbiton, Twickenham and Wickford were just some of the swathes being shut.

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2021-09-30 09:00:03Z
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Ministers admit jobs WILL be lost as furlough ends TODAY - Daily Mail

'At some point it had to end': Ministers admit jobs WILL be lost as furlough closes TODAY despite fears a MILLION are still reliant on handouts - but say there is 'support' and they should seek 'new opportunities'

Ministers admit some people face losing jobs as furlough finally ends tomorrow
Government says scheme had to end 'at some point' and there are 'opportunities'
Latest figures from July showed 1.6million jobs still being propped up by scheme
Experts warned only a 'trickle' of staff were being taken off furlough scheme

By James Tapsfield, Political Editor For Mailonline and Danyal Hussain

Published: 09:32 BST, 30 September 2021 | Updated: 12:41 BST, 30 September 2021

Ministers have admitted jobs will be lost as the Government's furlough scheme finally ends today after 19 months.

Chief Secretary to the Treasury Simon Clarke said the huge bailout - which has cost the taxpayer more than £68billion - 'has to end at some point'.

And he played down the risk of a deluge of unemployment, insisting there is 'support' and people should seek 'new opportunities'.

The latest figures show that as of July 1.6million jobs were being propped up by furlough, which has been running since March last year. Experts have warned that around a million could still be reliant on the handouts.

At its peak a third of all employees were being paid to stay at home in an unprecedented government move.

But it is due to come to an end from midnight, with other support measures to follow.

The latest figures showed 1.6million jobs were still being propped up by the furlough scheme at the end of July

Chief Secretary Simon Clarke said the huge bailout - which has cost the taxpayer more than £68billion - 'has to end at some point'

One in ten jobs in Crawley were still on furlough at the end of July - leading to fears of unemployment spike

Up to a tenth of jobs in Crawley could be on the line as the furlough scheme ends.

More than 5,000 employments were on furlough in the town as of the end of July, according to the latest stats.

That is roughly equivalent to 10 per cent of jobs in the area.

Although some are expected to have come off furlough over the past two months, the Sussex town - home to Gatwick Airport - is braced for a spike in unemployment.

Crawley is already in the top 10 places with the highest share of people claiming unemployment related benefits.

It has also seen the largest increase in the claimant count since March, with 5.5 per cent increase in dole handouts.

Unsurprisingly, transportation and Storage was the sector most affected, with 1,990 employees on furlough.

In a round of interviews this morning, Mr Clarke said that job losses were 'part of the process' of recovery from the pandemic.

'Obviously there will be a variety of outcomes, I don't have an estimate with me today. There will be some job losses,' he told Sky News.

'Furlough has protected 11.6million jobs in total … at some point you have to end these emergency measures.

'People's jobs will be created just as some have very sadly been lost, that is part of the process of ending this crisis and going back to normal.'

Mr Clarke said: 'There is a lot of opportunity out there for people now. There's never an easy moment to end these measures.

'They've been hugely important but it is also time to recognise that we are now, thankfully, out of the teeth of this pandemic … and we're in a situation where normal opportunity is back out there for people to embrace.'

He added there would be a 'range' of options for those who would find themselves without work and that the unemployment rate had fallen seven months in a row.

'We never said we could protect every job … I think we need to be totally honest about this, the Covid pandemic has taken a toll on our economy, it's changed some things,' he said.

'My message to people would be there are these opportunities there.'

Furlough numbers dipped by 340,000 by the end of July - the first month that employers had to pay 10 per cent of the salaries.

But experts have warned that only a 'trickle' are being taken off furlough and a million could still be reliant on the bailout.

HM Revenue & Customs figures showed 121,600 people between the ages of 18 and 34 were taken off the furlough scheme in June and July.

Furlough launched in the early days of the pandemic as a way of ensuring that people could keep their jobs, and a portion of their income, even when the economy closed down.

For those who were unable to work from home, the scheme would pay them up to 80 per cent of their salaries.

However from the beginning of July employers had to contribute 10 per cent of their furloughed employees' salaries. This went up again to 20 per cent for August and September.

Since launching 18 months ago, close to 12million jobs have been furloughed. The Government has paid a total of £68.5billion to furloughed employees.

Furlough levels remained the higher in London on July 31 than in other parts of the country, especially for men.

Eight London areas were among those with the highest furlough rates, at 9 per cent to 10 per cent.

Concerns have been raised about the number of workers over the age of 50 who are still furloughed.

More than 540,000 people in the age group were on furlough at the end of July, accounting for 35 per cent of the total, according to research.

Rest Less, which offers help and advice for older people, said the pandemic had 'devastated' the job market for older workers over the past two years.

Founder Stuart Lewis said the full impact might still to be felt, adding: 'With more than half a million people aged 50 or older still on furlough at the last count, we may well see hundreds of thousands of hardworking, experienced older workers enter redundancy and, ultimately, find themselves looking for a new job in the run-up to Christmas.

'The jobs market is polarised at the moment. On the one hand, we have record job vacancies and companies struggling to hire talent in key areas, for example HGV drivers and healthcare.

'On the other side, unemployment levels across many age groups have yet to recover and we are seeing huge falls in economic activity amongst midlifers.

'Much more can be done to help bridge these gaps through intensive retraining and accelerated assessment programmes.'

Rest Less said its research suggested long-term trends of employment growth among the over-50s has been reversed over the past two years.

Workers describe the 'emptiness' and 'lack of purpose' of being on furlough for up to 19 months - but how they used the time to start businesses and learn new skills

Charlotte Daniel, 28, has started learning Spanish and launched a business with her partner while on furlough

Charlotte Daniel 28, data analyst for villa holiday company, Canterbury

Charlotte Daniel spent the majority of the past 18 months on furlough, and says it has been a mixture of emotions.

The 28-year-old data analyst described feeling 'emptiness, lack of purpose, loneliness' and a 'desire for progression'.

'A year-and-a-half without career development at my age is hard,' she told the Guardian.

Ms Daniel, from Canterbury, returned to work when she was offered a secondment but said it was a 'massive shock to the system' - particularly as she had to work 12 hours per day at home with 'terrible wifi'.

She said she chose to go back on furlough - during which time she has picked up Spanish and bikini bodybuilding, which she now trains for five times a week.

Her and her partner have also managed to launch a sportswear brand for women and bought their first house together.

She added: 'It's been a mad 18 months but I've made the most of being furloughed.

'Now I'm really looking forward to going back to my role next month and seeing my colleagues.'

Peter Advertisement 39, events administrator, Royal Northern College of Music, Manchester

Peter has been furloughed for 18 months and says he has had nothing to do since his job entails putting on concerts.

The 39-year-old said he has been lucky as the Royal Northern College of Music in Manchester has been topping up his wages during that time.

He said: 'But my mental health suffered significantly, I was under the constant stress of thinking my job could be discontinued at any moment...

'The only saving grace for me was that my first child was born at the beginning of the year.

'I've bonded with him far more than if I'd only seen him at bedtime, and my partner and I have shared childcare. For that, I've been incredibly fortunate.'

Peter returned to his full time job this month with a hybrid deal of working from home and at the office - and with concerts scheduled for the autumn, things are looking up.

John Cooper, 45, operations manager for a sports complex, East Sussex

For John Cooper, 45, who was furloughed in March 2020, the experience has been an 'eye-opener' and taught him the value of family.

He took up a second job stacking supermarket shelves from 9pm to 1am, three times a week.

'It was a godsend for my mental health,' he said, 'With the 80% salary from my normal job, it meant we were slightly better off in terms of household income.'

The operations manager was able to take up golf again after 20 years and he and his family moved out of town.

He added: 'I play golf four or five times a week, I've made new friends and I've lost weight. I'm now free of debt for the first time in my life.

'The pace of life has slowed down, and I've realised you don't have to be chasing things and doing things all the time.'

He has agreed to return to his original job on a part-time basis and will keep his supermarket job - meaning a 43-hour work week in total.

Source: The Guardian

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2021-09-30 08:32:02Z
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Covid-19: UK furlough scheme ends but impact on NI workers unclear - BBC News

The UK's furlough scheme ends on Thursday but the impact on Northern Ireland workers is unclear.

The most recent official figures show that at the end of July, 36,000 people in Northern Ireland were still using the scheme.

The number has likely come down since then.

Furloughed workers will either retain a job with their employer, find new work, start claiming universal credit or leave the labour force.

The furlough scheme involved the government helping to pay the wages of people who could not work due to the coronavirus pandemic.

Last week, Stormont's Finance Minister Conor Murphy wrote to the chancellor urging him to extend the scheme beyond the end of September to help support businesses and workers.

The Sinn Féin minister said: "The approach taken by the British government is in contrast to the Irish government which is keeping its Employment Wage Subsidy Scheme in place until at least the end of December.

"This disparity of wage support across the island of Ireland could particularly impact businesses operating in border counties, especially in our hospitality and retail sectors who still continue to rely on these jobs support schemes, north and south."

Roger Pollen of the Federation of Small Businesses said the furlough scheme had been "a really effective tool for managing an extraordinary situation".

"The good thing is at least this scheme is coming to an end at a time when there are a lot of jobs available in the economy - that is probably unusual but is very welcome," he told BBC Radio Foyle.

But large parts of the economy remain under intense pressure, including the hospitality sector, he said.

Many businesses, he added, are concerned by the prospect of any further form of lockdown.

"I think many businesses are concerned by the noises coming from the executive because there is a complete lack of clarity as to what they are expecting for business," he said.

Damian Murphy, from the Association of NI Travel Agents, which represent about 700 people in the sector, said further support is needed for travel agencies.

"We're not in a position where we need all our staff back, nor are a lot of our agencies in a position where they can afford to make staff redundant," he told the BBC's Good Morning Ulster programme.

"A lot of people are in discussions about bringing staff back on reduced hours, delaying their comeback or even unpaid leave in some cases."

Mr Murphy said problems for travel agents are likely to persist until the end of the year.

Of the 36,000 people on furlough at the end of July, about half were on flexible furlough meaning they were able to work some of the time.

The largest number (6,400) of furloughed workers at that time was in the retail sector (6,400), followed by hospitality (5,500).

The scheme was introduced in the spring of 2020 to stop people from being laid off by their employers during the lockdown.

The government paid 80% of the wages of people who could not work or whose employers could no longer afford to pay them - up to a monthly limit of £2,500.

In July, the government reduced its contribution to 70% of wages with employers paying 10%.

In August and September, the government contribution was 60% with the employer proportion rising to 20%.

The jobs market recovery has reduced fears that the end of the scheme will not lead to large scale job losses.

Company payrolls in Northern Ireland continued to increase even as the scheme began to taper and the number of redundancies being notified to the Department for the Economy has been low in recent months.

'No furlough, no money'

When the first Covid-19 lockdown descended 18 months ago, caterer Seaneen Monaghan was in the same boat as so many thousands of others - left to anxiously wonder about what may happen to her and her family at a time when neither she nor her husband could go to work.

"You didn't know where you stood at the time," she said.

"My husband and I, being in the same industry, we didn't know what we were going to do."

So when the furlough scheme was announced, it was a "blessing".

She said that "80% of our wage was better than not getting anything at all.

"We still had to cut back and we missed that extra 20% but we got there in the end."

For Mrs Monaghan's employers, the furlough scheme meant some certainty during some of the most unpredictable weeks of the pandemic.

But she remains concerned about what could yet come without the scheme.

"If there was another lockdown, this industry would be the first one to close - and if there's no furlough scheme, there's no money."

'Furlough was a godsend'

For Diane Hill, who is director of business and organisation development at Now Group, which runs Loaf Catering, "furlough was a godsend for us".

"And then when we went to being able to bring people back but were were changing our business - doing outside catering, home deliveries - we couldn't project how that business would be," she said.

"So having flexi-furlough so that we could bring people back and give them assurances that we would continue and give them an income from ourselves, as well as being able to flex around their personal lives - it's the reason we're still here today."

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2021-09-30 08:24:51Z
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