Coronavirus outbreak: UK unveils financial support scheme for those who are self-employed | FULL
The British government has unveiled another massive income support scheme, this time for 5 million or so self-employed people, many of whom face financial ruin from the shock of the coronavirus pandemic.
Treasury chief Rishi Sunak said the new Self-Employed Income Support Scheme will replicate the one he announced last week for those workers that firms retained rather than lay off.
Sunak said the government will pay self-employed people, who have been adversely affected by the coronavirus outbreak, a grant worth 80% of their average monthly profits over the past three years, up to 2,500 pounds ($2,975) per month.
He said the scheme will cover 95% of Britain's self-employed and will only be open to those who make the majority of their income from self-employment so only the "genuinely self-employed" benefit.
He said the scheme, which will be open for at least three months, should be in a position to start handing over the grants by the start of June.
"The scheme I have announced today is fair. It is targeted at those who need it the most and crucially, it is deliverable," he said.
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The British government has unveiled another massive income support scheme, this time for 5 million or so self-employed people, many of whom face financial ruin from the shock of the coronavirus pandemic.
Treasury chief Rishi Sunak said the new Self-Employed Income Support Scheme will replicate the one he announced last week for those workers that firms retained rather than lay off.
Sunak said the government will pay self-employed people, who have been adversely affected by the coronavirus outbreak, a grant worth 80% of their average monthly profits over the past three years, up to 2,500 pounds ($2,975) per month.
He said the scheme will cover 95% of Britain’s self-employed and will only be open to those who make the majority of their income from self-employment so only the “genuinely self-employed” benefit.
He said the scheme, which will be open for at least three months, should be in a position to start handing over the grants by the start of June.
“The scheme I have announced today is fair. It is targeted at those who need it the most and crucially, it is deliverable,” he said.
For more info, please go to https://globalnews.ca/tag/coronavirus/
Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#Coronavirus #COVID19 #UK #GlobalNews
