Home politics Bailout grants for self-employed will double during the second Covid lockdown

Bailout grants for self-employed will double during the second Covid lockdown

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Bailout grants for self-employed will double during the second Covid lockdown


BAILOUT grants for the self-employed will double during the second Covid-19 lockdown, Boris Johnson has announced.

The Government will pay 80 per cent of normal trading profits for November — the same proportion furloughed staff will receive.

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The Government will pay 80 per cent of normal trading profits for November

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The Government will pay 80 per cent of normal trading profits for NovemberCredit: AP:Associated Press

It takes the maximum grant for solo workers from November to the end of January to £5,160.

The Treasury says it means the self-employed will get £4.5billion in total over the next three months.

Chancellor Rishi Sunak warned that, despite the extension of financial support, many would lose income. 

He said: “Close to three quarters of a million people have already lost jobs and sadly many more will. That is going to happen as a result of the restrictions we are putting in place.”

FSB boss Mike Cherry said: “It’s a relief to see the Prime Minister listening to some of our calls for extra support for small businesses and the self-employed.

“The uprating of the Self-Employment Income Scheme to 80 per cent for November is generous and will likely help around two million self-employed people – bringing forward the application date is helpful.

“However, many of our self-employed are still not included in the initiative. This is a five-million strong community that drives our economy forward, but the Government has insisted that large swathes of it do not warrant any help where income is concerned.”

Rishi Sunak to unveils major support scheme for businesses hit by Tier 2 lockdowns during Covid briefing

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