The worker on 55k won't get it, there's a cut off of £2500 a month. He only gets it if the business he works for is at risk of folding.
He gets £2,500 from the government if his employer furloughs him. Nothing to do with risk of folding.
I wish you all the best, mate. I just hope people can manage off their savings until June, then replenish their savings at that time.
We're only talking about receiving subsidy payments to keep things afloat, to stop businesses going bust and to keep employees on. As I understand it the employed worker on £55k pa will get £2.5k per month - on furloughing. His employer, providing him with the job and making £55k pa himself, will get nothing.
If that is the case it is a massive own goal. UTC needs upping if I really hope not. It is a major worry. some kind of basic income may have worked better, but people may still have done cash in hand to top up. I'm trying to see what would work, surely we need to be responsible & accept that other than frontline workers we are all going to take a hit. I'd be in favour of cutting taxes for NHS, social workers & others on the front line, including shop workers & delivery drivers in the peak period & if all our taxes go up later, so be it, as they are the ones that are taking the risks. I might include volunteers in that, who put in a certain number of hours a week.
I’m somebody that as far as I can see would be worse off from the announcement today, but despite that I’m fine with that and agree with what you have put here
I'm lucky, I can, as I had money saved for Corporation Tax. I think there is still work to be done on safety nets. I'm talking personally re the proposals. A bunch of subcontractors that work for me may be up **** creek, unfortunately I don't have the resources to help them. I pay everyone on the day for the work they do & I'm still waiting on money for jobs I've paid them for.
PS, I think a windfall tax on companies profiting from this would be fair, not those that have innovated to save lives mind. A lot of private enterprise will get us out of this, but a lot will come from ordinary working people, who need our support.
At 8-30 pm on ITV, Money specialist Martin Lewis will be giving advice. He will be outlining what the self employed can expect to receive following today's announcement regarding payments during the current lock down, which sees them unable to go about their business.
Interesting point just been made on Newsnight. Self employed decorators at the BBC have told reporters that whilst they are grateful for the help announced today, they don't have any savings/ spare cash once they have paid all their bills, and as the benefit is not to be paid until June, they have no choice but to carry on going in to work, starting from tomorrow. Postscript. Just noticed that there is nothing in the scheme to stop any self employed person from carrying on working and that if they choose to do that, they will still qualify for the 3 month Government subsidy.
I thought the same Helen, but that's what it says in the outline statement. Where it doesn't seem fair is that the Employee scheme doesn't get the same concession.