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Posted : 02 Nov 2020 at 12:11:12
Category: Important Announcement

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Chancellor Rishi Sunak this morning said that self-employed people would be given extra support due to the onset of a new national lockdown.

Speaking to the BBC, he said that the cap on the current grant of 40 per cent of trading profits would be increased.

The grant is paid out in a single instalment covering three months, with a top limit of £3,750.

Boris Johnson will provide further details when he addresses Parliament later today, he added.

“What we have done, typically during this crisis is adjust the value of the grants as we’ve adjusted the value of the support to those who are employed… and you can expect us to do the same again here”, he said.

“Directionally of travel, the 40 per cent will go up to reflect the fact that at least one of those [three] months of support will be at a higher level”.

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Sunak added that the Treasury had already given nearly 3m self-employed people a combined £13bn in support so far.

The government has already confirmed that the furlough scheme will be extended through to the end of the new lockdown.

It had been due to come to an end last night, but will now last until 2 December.

Sunak insisted that the government was planning to return to its three-tier restrictions system in four weeks time.

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