Self-employment Income Support Scheme 2020-05-18
2020-05-18
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Questions & Answers
Q1
Direct Answer
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Context
The scheme provides support worth up to £7,500 for millions of individuals. By the end of May 2020, more than 2 million claims had been made with grants totalling over £6 billion.
Despite the Chancellor's claim that the self-employment support scheme is one of the most generous in the world, tens of thousands are still missing out—new starters, pay-as-you-earn freelancers, those paid through dividends and those earning over £50,000. Will the self-employed income support scheme be extended in line with the job retention scheme? Are there plans to lift the cap on profits? And will he please look again at supporting new starters?
We have discussed these things before, but I do not believe that removing the cap would be the right or socially just thing to do. The average income of those above the cap is £200,000 and 95% of self-employed individuals fall underneath the cap.
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Assessment & feedback
Extending the scheme in line with the job retention scheme and providing support for new starters were not directly addressed.
Removing The Cap Would Not Be Socially Just
Response accuracy