Coronavirus Update: Support for businesses & workers

May 29, 2020

Tonight, the Chancellor announced that the Self Employment Support Scheme will be extended for three months, with a second and final grant worth 70 per cent of average trading profits, capped at £6,570 and the Coronavirus Job Retention Scheme will now run until the end of October – providing eight months of support in total.

 

This remains one of the most comprehensive and generous packages of support anywhere in the world, and reflecting the fact many people are now able to return to work, as levels of government support are slowly tapered off from 1 August, so employers can begin to contribute to these costs. The Government has also added more flexibility, making it easier for furloughed workers to return part time.

 

I am pleased that the Government is doing everything it can to ensure people can pay their bills and put food on the table – as people continue to stay alert, to control the virus and save lives.

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