I'm delighted that the Chancellor, Rishi Sunak, has announced a range of new Government financial support for Business and workers across the United Kingdom. These new measures include:
• The furlough scheme will now be extended until the end of March – protecting millions of jobs across all nations.
• The next self-employed income support grant will also increase from 55% to 80% of average profits - up to £7,500.
• The Coronavirus Job Retention Scheme (CJRS) will now run until the end of March with employees receiving 80% of their current salary for hours not worked.
• Similarly, support for millions more workers through the Self-Employment Income Support Scheme (SEISS) will be increased, with the third grant covering November to January calculated at 80% of average trading profits, up to a maximum of £7,500.
The Government has always pledged to protect jobs and livelihoods here in Bournemouth West and across the rest of the UK. We know that the economic impact on businesses last much longer than the period of restrictions and understand that further, ongoing support is required - hence why the schemes have had to be extended over the winter into Spring.
If you would like any more information on the above announcement, please feel free to email me at Conor.Burns.MP@Parliament.UK