Business Finance

UK self-employed workers will receive 80% of their income to stop poverty

After facing a lot of fury over the failure to support people that are self-employed during the Covid-19 crisis, Boris Johnson finally declared that he will give them 80% of the monthly income.
These measures are aimed at stopping people from plunging into poverty after the lockdown has been implemented.

Rishi Sunak told MPs government is ‘determined’ to help the self-employed but the support system must be deliverable and fair for everyone.

The Chancellor said: ‘I will be making further announcements about progress on these measures. It is something that we have been looking at in intense detail over the past week in the Treasury.
‘What I can say is we are in dialogue with all the key stakeholder groups including calls I am having today with several of those bodies.

‘There are genuine practical and principled reasons why it is incredibly complicated to design an analogous system to the one we have for employed workers.

‘But you can rest assured that we absolutely understand the situation that many self-employed people face at the moment as a result of what is happening and are determined to find a way to support them.

‘We need to be confident that can be done in a way that is deliverable and is fair to the vast majority of the British workforce.’

The lockdown measures imposed this week had immediate effect for the self-employed, with a lot of them losing contracts. The government is investigating some form of income guarantee to keep them afloat and will announce it in the next couple of days.

However it is very unclear yet how the payments will be processed and actually handed out.

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