The financial workings of the new scheme were clearly set out by the Chancellor yesterday: from 1 November 2020 until 30 April 2021, where an employee works at least one-third of their normal working hours, the government will pay up to one-third of their pay for the non-worked hours, capped at £697.92 per month, if the employer also pays for one-third of the non-worked hours. There is no cap on the employer contribution. We expect that the guidance will set out a “normal hours” calculation similar to that used in the current Job Retention Scheme (“JRS”).