Yahoo Finance Bonus payments for working extra hours during TT
People who work extra hours in restaurants, pubs and shops on top of a full-time job during the TT fortnight will receive a bonus of up to £200 from the government.
The TT Hospitality and Retail Staffing Incentive Scheme has been created to in response to concerns over a lack of staff during the island's busiest period.
Under the initiative, people would qualify for an extra £50 for every 10 additional hours worked on top of the standard 37 hours, with the bonus capped at £100 each week.
Enterprise Minister Tim Johnston said the scheme aimed to "provide some welcome financial assistance" for firms and enable them to "maximise their opening hours" during the period.
'Local economy'
The Isle of Man TT races attract thousands of bike fans to Manx shores for the two-week spectacle, creating pressure on the hospitality and retail sectors.
In recent times, members of the hospitality trade in particular have raised concerns about the affects of rising costs and difficulties attracting and retaining staff, particularly during busy periods.
The new scheme will see eligible businesses able to claim the money, which will be subject to normal employee tax and National Insurance contributions, after the TT period.
However, the funds must be paid to the worker and cannot be included as part of their wages.
Treasury Minister Dr Alex Allinson indications from businesses suggested there was a gap equating to about 500 workers that would be needed for the period, which if filled could cost the government up to £200,000.
He said it was a short-term measure designed to relieve some of the pressures facing firms by "incentivising individuals to earn more during a strategically important time for the sector and indeed the island’s economy".
The money earmarked for overall package of support for the sectors, which also includes the Employee Relocation Incentive and Seasonal Worker Incentive, and Alcohol Licencing Support is up to £1.1m.
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