ERA has become the latest company to return UK Government cash that was paid out under the Job Retention Scheme.
Tyman plc, the parent company of ERA, Zoo, Schlegel-Giesse and Access360, has confirmed that it intends to pay back £2.3m received in 2020. The payment will be made in full before year end.
A whole host of companies have already repaid the cash that they received from the Government to help weather the Covid-19 storm. Those firms include some of the UK’s biggest housebuilders, Redrow, Barratt and Taylor Wimpey, as well as many others.
Darren Waters, divisional CEO for Tyman UK and Ireland, explains the rationale behind the decision to repay the cash, “During the second half, our businesses have benefited from the strong recovery in the residential and commercial markets and we are in the fortunate position where we are able to return this money. The Job Retention Scheme served its purpose in supporting us to preserve jobs through the uncertainty. Other sectors, including hospitality, leisure and retail, have been hit hard and need further Government support to get through this crisis. For Tyman, paying back the money is the right thing to do.”
*For employers, the government’s Job Retention Scheme allowed them to claim for some of their employees’ wages if they had put them on furlough or flexible furlough because of coronavirus.”