Asked on 26 Mar 2020
Or are you still concerned?
I think the support given the Government as mentioned in the Resilience Budget will be able to help businesses and employees tide better over this difficult period.
The Government will co-fund 25% of local workers’ wages until December 2020, with heavily impacted industries like air transport, tourism and food services to receive higher co-funding. Firms in the food services sector will receive higher support at 50% of wages and firms in the aviation and tourism sectors (most badly affected sectors) will be supported at 75% of wages.
One of the key areas of focus for the Resilience Budget is to help save jobs, support workers and protect livelihoods.
I think the Government’s move to help businesses with workers’ wages will be able to significantly reduce the immediate pressures businesses currently face from disruptions in operations and cash flows. Workers can get more assurance that they'd be able to keep their jobs knowing that the Government will provide help for businesses and workers to tide over this difficult period.