BREAKING: Government Announces Emergency Fund For Self-Employed Workers During Lockdown
The government has announced a raft of new measures to support self-employed Brits during the coronavirus lockdown.
Speaking on Thursday afternoon, Chancellor Rishi Sunak unveiled details of the new Self-Employed Income Support Scheme for the first time.
He revealed the government will pay self employed people a taxable grant worth 80 per cent of their average monthly profit, based on figures over the last three years, worth up to £2,500 per month.
The scheme will be in place for up to three months but can be extended for longer "if necessary", he added.
Speaking from Downing Street tonight, the cabinet minister assured self-employed Brits they "have not been forgotten".
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However, many were disappointed to learn that the cash, which will be paid in one lump sum, will not be available until June.
Up until now, the government had pledged to help pay 80 per cent of wages for employees on a payroll, but those who work for themselves were only eligible for employment support allowance.
They were only allowed to claim employment and support allowance (ESA) and/ or Universal Credit, equivalent to statutory sick pay at £94.25 a week.
But with many out of work completely, self-employed have been anxious knowing this would not cover rent, mortgages and bills.
Featured Image Credit: PA
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