January 27, 2021
This report from UK think tank the IFS looks at what the government could do about those excluded from the Self Employment Income Support Scheme.
The government has provided huge amounts of financial support to working people since the start of the pandemic, with its furlough scheme for employees forecast to cost £62.5 billion in 2020–21 and the Self-Employment Income Support Scheme (SEISS) forecast to cost £21 billion up to January 2021, with expected costs of up to a further £7 billion to cover the period from February to April 2021. SEISS provides payments once per quarter worth 80% of pre-pandemic profits up to a cap of £7,500 (per quarter) for eligible self-employed workers who have been adversely affected by the pandemic. However, despite huge spending on these support packages, important groups of self-employed workers are not eligible for it. This short briefing note sets out what we know about who have been excluded from this support and what options the government has for extending it to them.Read Full Report
By Jonathan Cribb; Tom Waters; Thomas Wernham; Xiaowei XuRead more