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Wage subsidy fund would ‘help to save jobs’
A wage subsidy fund would help reduce the amount of staff that small and medium-sized businesses are forced to cut due to the recession, according to the Trade Union Congress (TUC) and the Federation of Small Businesses (FSB).
The TUC and FSB have called on the government to subsidise up to 60% of a worker's wage by a combination of a specially set up fund and the job seekers allowance.
With unemployment figures in the UK steadily increasing - it currently stands at just under 2m - the TUC and FSB claim that the government could support over 600,000 employees a year at a cost of £1.3bn.
A number of European countries such as France, Italy, Spain and Germany have already set up such a fund to try and reduce the amount of staff that are laid off as firms seek to cut costs.
"Where they are needed, wage subsidy schemes provide a quick and effective way to cut costs for struggling businesses and vital financial help for hard-pressed employees," said Brendan Barber, TUC general secretary.
Post Date: March 3rd, 2009
The TUC and FSB have called on the government to subsidise up to 60% of a worker's wage by a combination of a specially set up fund and the job seekers allowance.
With unemployment figures in the UK steadily increasing - it currently stands at just under 2m - the TUC and FSB claim that the government could support over 600,000 employees a year at a cost of £1.3bn.
A number of European countries such as France, Italy, Spain and Germany have already set up such a fund to try and reduce the amount of staff that are laid off as firms seek to cut costs.
"Where they are needed, wage subsidy schemes provide a quick and effective way to cut costs for struggling businesses and vital financial help for hard-pressed employees," said Brendan Barber, TUC general secretary.
Post Date: March 3rd, 2009
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