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Jersey Chamber of Commerce

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Category: Local Business News  States of Jersey

Cofunded Payroll Scheme Update

Jul 13, 2021

Updated Co-Funded Payroll Scheme figures released  

The Government of Jersey has published an update to the Co-Funded Payroll Scheme payments to businesses, with £21.7 million being paid to support around 5,000 jobs each month between September and December last year.

This is substantially less than the £81 million for the period March to August 2020.

Payments in September and October were made under Phase 3 of the CFPS, which extended the scheme into the latter half of 2020. Phase 3+, in November and December, provided wage subsidies to businesses based on the detriment they suffered.

The figures published by the Minister for Treasury and Resources, Deputy Susie Pinel, show that:

  • £21,658,477 was paid out to businesses and the self-employed between September and December
  • more than 1,500 businesses were paid £7.6 million in December; the highest month in the quarter
  • the Hospitality sector received the highest level of payments during the four-month period (£9.5 million), followed by Education, Health and other services (£2.7 million) and Miscellaneous Business Activities (£2.3 million).

The Minister for Treasury and Resources, Deputy Susie Pinel, said: “This data shows that while claims on the Co-Funded Payroll Scheme fell considerably during the final fourth months of 2020, there was still a vital need to support those sectors which continued to be most affected by the pandemic.

“However, claims were at a lower level during this period, even in the sectors most affected by the Covid-19 restrictions, compared to earlier in the year, as businesses innovated to respond to the pandemic.

“We’ve continued to review and extend the scheme during 2021 and it will be available until the end of August for those businesses which are eligible to claim under the Visitor Attractions and Events Scheme, the Visitor Accommodation Support Scheme, and the Fixed Cost Subsidy Scheme.”

The Minister for Economic Development, Tourism, Sport and Culture, Senator Lyndon Farnham, said: “The Co-Funded Payroll Scheme has been and continues to be the central pillar in the support we’re providing to business as part of our strategy to protect livelihoods over the last 16 months.

“The data shows that claims rose in December, as more support was needed when the Winter Circuit Breaker was introduced, and new businesses were also able to take part in the scheme.”

To date, £3,321,666.45 has been repaid by 331 companies. Any firms wanting to repay monies received should email [email protected] for more information.

Government of Jersey News Release.

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