Chancellor addresses gap in support for those ineligible for coronavirus (COVID-19) measures

Chancellor addresses gap in support for those ineligible for coronavirus (COVID-19) measures

The Chancellor of the Exchequer, Rishi Sunak MP, has responded to the Chair of the Treasury Committee, Mel Stride MP, regarding Stride’s request to assist individuals who are ineligible for the Treasury’s coronavirus (COVID-19) support measures. Sunak emphasised that the government’s planned economic response sets out to be ‘as comprehensive as possible’ by outlining several available schemes including the Coronavirus Business Interruption Loan Scheme, the Coronavirus Corporate Financing Facility and the Coronavirus Large Business Interruption Loan Scheme. Sunak outlined the ways in which government has come in aid of specific sectors, the self-employed, people’s incomes and public services. In response to the Chancellor’s letter, Stride acknowledged the government’s timely efforts to support the economy but called for further help to be given to those who receive self-employment related dividends, and demanded that emergency loans be more rapidly deployed to businesses. Stride has revealed that the Treasury Committee also requested to receive daily updates regarding loans to businesses from UK Finance and the British Business Bank.

The Chancellor’s letter may be viewed in full here.

Source: Chancellor responds to Treasury Committee on help for those not eligible for Government’s support measures

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