The Government has announced a new economic scheme in order to help save jobs in the coming months.
Rishi Sunak announced today that the he will ensure the Government will help “viable” jobs by paying a significant amount of people’s wages.
He said support will be available for people working a third of their regular hours, with the government set to top up wages.
He added small and medium sized enterprises would benefit from the programme when it launches in November, offering an alternative to making staff redundant.
Mr Sunak also announced VAT would remain at five per cent for businesses in the hospitality and tourism industries, stating: “Today’s measures make an important evolution of our approach, our lives can no longer be put on hold.”
However after the launch of the furlough scheme, there were many people who were excluded by the furlough scheme with employees falling through the gap.
Shortly before the announcement, Money Saving Expert Martin Lewis put out a plea to the Chancellor on Twitter. He wrote: “Dear @RishiSunak millions of people are in dire need as they were #ExcludedUK from furlough or self-employment help the first time round.
“Realistically it’s understood you won’t revisit that. Yet please DONT EXCLUDE THEM AGAIN in today’s announcement”.
Mel Stride and other MPs previous urged the Government to do more for the self-employed who “slipped through the cracks” however Mr Sunak has assured him that the newest arrangements will hopefully address his and other MPs concerns.
Rishi Sunak announced today that there would be plans to delay self-assessment and an extension on the support grant for self-employed people.
Martin Lewis said he would be addressing the new economic details on his ITV show at 8.30pm.