{"id":75465,"date":"2020-04-28T12:24:35","date_gmt":"2020-04-28T11:24:35","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=75465"},"modified":"2020-04-28T12:24:35","modified_gmt":"2020-04-28T11:24:35","slug":"coronavirus-job-retention-scheme-rollout","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/hr-skills-news\/coronavirus-job-retention-scheme-rollout\/75465\/","title":{"rendered":"CICV Forum hails Coronavirus Job Retention Scheme rollout"},"content":{"rendered":"

The Construction Industry Coronavirus (CICV) Forum<\/a> has praised the \u201cspeed and efficiency\u201d of the Coronavirus Job Retention Scheme rollout but warns the real test lies ahead<\/h2>\n

CICV \u2013 set up to support Scotland\u2019s construction industry during the current pandemic \u2013 said the successful launch of the Coronavirus Job Retention Scheme by HMRC last week could provide a \u201cvital lifeline\u201d to companies across the country.<\/p>\n

Since the HMRC portal opened on 20 April, more than 140,000 companies employing around a million workers have applied to the furlough scheme<\/a>. The cost of about \u00a31bn is expected to rise significantly as more companies take up the offer.<\/p>\n

Fears seem unfounded<\/h3>\n

Vaughan Hart, managing director of forum member Scottish Building Federation<\/a> and chair of the Forum Employment sub-group, said: \u201cThe forum wishes to record its appreciation of the intense amount of work that has been undertaken behind the scenes by HMRC to so effectively address a situation that, just a few short weeks ago, nobody could have envisaged.<\/p>\n

\u201cFears that the system might be overwhelmed seem unfounded as the rollout and handling seems to have gone smoothly so far.<\/p>\n

\u201cFeedback also seems to suggest that payments are now being made as scheduled, so fingers crossed this continues and a vital lifeline is successfully delivered.\u201d<\/p>\n

Andrew Renwick, managing director of Caltech Lifts<\/a>, and member of the Forum Employment sub-group, commented: \u201cThe revenue has taken on a mammoth task and seems to have made a really good start, demonstrating admirable speed and efficiency.<\/p>\n

\u201cThe circumstances have been unprecedented and it is very gratifying to see the importance that government attaches to the small businesses which are the lifeblood of the economy.<\/p>\n

\u201cHowever, the job is still only half done, and the real test will come over the next week or so when it will become clear if funds are paid out on time to those who need them most.\u201d<\/p>\n

The Coronavirus Job Retention Scheme means that employers who cannot maintain their current workforce because their operations have been severely affected can \u201cfurlough\u201d employees<\/a> and apply for a grant that covers 80% of their usual monthly wage costs, up to \u00a32,500 a month, plus the associated Employer National Insurance and pension contributions.<\/p>\n

The Coronavirus Job Retention Scheme is temporary, in place for four months starting from 1 March, but it may be extended if necessary and employers can use this scheme at any time during this period.<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

The Construction Industry Coronavirus (CICV) Forum has praised the \u201cspeed and efficiency\u201d of the Coronavirus Job Retention Scheme rollout but warns the real test lies ahead.<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[285],"tags":[676,54592,283,18288,661],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-75465","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-hr-skills-news","7":"tag-construction","8":"tag-coronavirus","9":"tag-finance","10":"tag-hmrc","11":"tag-hr"},"acf":[],"yoast_head":"\nCICV Forum hails Coronavirus Job Retention Scheme rollout<\/title>\n<meta name=\"description\" content=\"The 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