"Workers in any part of the United Kingdom can retain their job even if their employer cannot afford to pay them and be paid at least 80 per cent of their salary". It is aimed at preventing companies from laying off staff.
The Chancellor made an attract companies to stand by their employees throughout the coronavirus situation.
This evening the Chancellor announced a range of new "unprecedented" measures that are "one of the most comprehensive in the world" to help businesses and consumers financially cope with the Covid-19 outbreak.
Additionally, the Coronavirus Business Interruption Loan Scheme, launched at Budget, will now be interest free for twelve months.
The Chancellor said the next quarter of Value-Added Tax payments will be deferred until the end of June in a cash injection of £30 billion.
Sunak called his latest package "unprecedented in the history of the British state ... you will not face this alone". At a cost of £30bn, companies will not need to pay what Value-Added Tax is owed until the end of the year.
"The truth is we are already seeing job losses and there may be more to come", Sunak said.
There will be almost £1bn of support of renters - increasing housing benefit and Universal Credit so that the local housing allowance will cover at least 30% of market rents in your area.
Universal Credit and tax credits will also be increased as part of an nearly £7 billion welfare package in response to Covid-19. No dedicated income support has been announced so far, with sole traders expected to claim universal credit or seek business loans. The chancellor said that renters will receive this top-up to match mortgage subsidies announced in his last package.
"That is a direct injection of over 30 billion pounds of cash to businesses, equivalent to 1.5% of GDP", he said at a news conference to announce measures to support the economy. Businesses with fewer than 100 employees in the country across all sectors of the economy will be able to seek grants worth £10,000.
On Thursday, Sunak spoke to representatives of business groups and unions including the Federation of Small Businesses and the Trades Union Congress, where it was agreed more needed to be done to protect workers' jobs.