I’m giving all my staff a £600 bonus to help them through the cost of living crisis – others should follow my lead
HERO bosses at one firm have given their staff a £600 bonus to help workers pay their bills as the cost of living soars across the UK.
The generous senior management at Inoplas Technology Limited decided to act after growing concerned over the impact of inflation on employees.
Thanks to the cost-of-living crisis, millions of Brits have been left to fork out on basic needs like petrol and heating.
It comes as energy bills could hit a staggering £4,347 a year in April after Jeremy Hunt’s U-turn statement yesterday.
And bosses at the Bournemouth-based plastic injection moulding service started working on the best way to help back in July, reports the Daily Echo.
Inoplas decided to offer a £600 bonus to each member of staff, with £300 to paid in October and January, respectively.
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Director Bob Davis hopes the sum will help fill a gap where rocketing household bills have left his workers pinching their pockets.
He said: “We really hope that the cost-of-living bonus will help the Inoplas family with energy and food costs during this difficult period for households.”
A Inoplas Technology Limited spokesperson said the business had been able to invest in new equipment to increase productivity, accuracy and efficiency.
They added that Inoplas had also been working on installing a new insulated roof and solar panels to mitigate against risks of rising energy prices.
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Jon Brooks, managing director, said: “This investment in equipment, Infrastructure and in the wellbeing of the team should mean a brighter future of the business during what is expected to be a tough winter for businesses.
“We own a huge amount of land and buildings across the conurbation and effectively what we are saying is we should be able regenerate those.
“We would love to get some money from government but if we can make these projects and these buildings work and be able to be regenerated properly, quite often they will be positive for our finances as well.”
New Chancellor Jeremy Hunt announced a number of mega mini-Budget u-turns yesterday in a bid to calm markets.
Energy bills were initially set to be frozen for the typical household for two years amid the cost of living crisis, but this policy will now end in April after U-turning on Liz Truss‘ disastrous mini-budget.
He also ripped up the planned 1p cut to the basic tax rate indefinitely, as well as scrapping VAT for foreign tourists visiting the UK and freezing alcohol duty rates from next year.
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The cap for April has not yet been set by regulator Ofgem amid uncertainty about what will happen to the wholesale cost of gas.
It could mean millions will see their energy bills soar once the guarantee is up.