The Job Retention Bonus (JRB)

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The Chancellor of the Exchequer Rishi Sunak has announced a new government support scheme to help reduce the number of expected redundancies.

The Chancellor unveiled the new scheme entitled the Job Retention Bonus (JRB) during his Summer Economic Update on Wednesday (July 8).

The new scheme will give employers £1,000 for each previously furloughed employee they retain and keep in employment until January 2021, as long as they are paid at least £520 a month.

Further details of the scheme are expected later in July.