THE WINTER ECONOMY PLAN
The Somerset Guardian, 30th September 2020
This week, the Chancellor of the Exchequer unveiled his Winter Economy Plan, which will provide assurances to workers and businesses who continue to be affected by the Covid-19 pandemic.
In a speech to the Commons, Rishi Sunak announced a package of measures including a new Jobs Support Scheme to protect millions of returning workers, the extension of the Self Employment Income Support Scheme, a 15% VAT cut for the hospitality and tourism sectors and assistance for businesses in repaying government-backed loans.
The Chancellor confirmed that from 1st November a new Job Support Scheme will be introduced to safeguard viable jobs in businesses who will experience lower demand over the winter months. The scheme will run for six months and help to keep employees attached to the workforce with the Government contributing towards the wages of employees who are working fewer than normal hours.
The Government is also continuing its support for millions of self-employed individuals by extending the Self Employment Income Support Scheme and an additional second grant, which may be adjusted to respond to changing circumstances, will be available for self-employed individuals to cover the period from February 2021 to the end of April.
I am delighted that the Chancellor is promising to support business and galvanise the economy with such sensible policies, with an extra £68.7 billion being given to the NHS and other public services to ensure that there is enough PPE for frontline staff, free school meals for children and protection for the country’s most vulnerable.
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