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UK says pension, social security move to give further cash boost to firms

FILE PHOTO: Chancellor of the Exchequer Rishi Sunak outside 10 Downing Street during the Clap for our carers campaign in support of the NHS, as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 26, 2020. REUTERS/Hannah McKay/File Photo

LONDON (Reuters) - Britain’s finance ministry said its plan to cover employers’ national insurance and some pension scheme contributions - part of the government’s bid to prevent a wave of job losses - could save companies an extra 300 pounds a month for each employee.

“Our Coronavirus Job Retention Scheme supports workers and businesses up and down the UK – and today we’re strengthening it because we will do whatever it takes to support jobs,” finance minister Rishi Sunak said in a statement.

Writing by William Schomberg; editing by Kate Holton

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