The chancellor Rishi Sunak has announced financial support for self-employed workers hit by a loss of income amid the coronavirus crisis.
Self-employed people will be able to apply for a taxable grant of up to £2,500 a month to help them cope with the loss of income, the chancellor announced this evening. It will cover 80% of their average monthly profits.
It is expected the scheme will cover three months initially and grants will be paid by June 1.
Sunak told the self-employed: “You have not been forgotten, you won’t be left behind. We stand together.”
The chancellor said it should apply to 95% of self-employed people who earn the most of their income from self-employment.
Staff being kept on by employers can have 80% of their salaries paid by the government, in a new support scheme announced last week.
More: Coronavirus: Travel agencies move for government ‘furlough’ support
Advice: What the coronavirus Job Retention Scheme actually means
Coronavirus: Government to cover 80% of wages of employees left without work