Mar 23 2020 09:44:00
COVID – 19 Emergency Business Scheme
23rd of March 2020
The Chancellor of the Exchequer has announced a sweeping range of financial measures to try to minimise the impact of Coronavirus on the economy.
The chief measures are:
Taken together, this all adds up to over £6 billion of extra support through the welfare system;
The next self-assessment payments for the self-employed will be deferred until Jan 2021;
Chancellor Rishi Sunak completed his announcement by saying: “For renters, I’m announcing today nearly £1 billion of support by increasing the generosity of housing benefit and Universal Credit, so that the Local Housing Allowance will cover at least 30 per cent of market rents in your area.”
Polly Neate, chief executive of Shelter said, “For the many thousands of people worrying about how they will pay rent, keep the lights on, and keep food in the fridge, today’s announcement will be a great relief.
“These are vital measures to strengthen the safety net and to keep people in work, and they will significantly reduce the numbers of people at risk of losing their home.
“We are already hearing from people who are rapidly losing work and we think the government may need to further increase Housing Benefit to cover average rents as well as introduce other measures to provide crucial security to these workers during this crisis".