Home Business News IPSE: Thousands of self-employed ‘face financial calamity’ without more support

IPSE: Thousands of self-employed ‘face financial calamity’ without more support

by LLB Politics Reporter
1st Nov 20 11:28 am

The Association of Independent Professionals and the Self-Employed (IPSE) has responded to the announcement of a second national lockdown by warning that unless government expands support to include all self-employed people, thousands will face “financial calamity” under the new restrictions. 

Derek Cribb, CEO of IPSE said, “Government must urgently fix the unfair disparity between employee and self-employed support. Right now, the self-employed can claim just 40 per cent of their earnings compared to 80 per cent for employees through the extended furlough scheme. This cannot stand as we enter a second national lockdown.

“Crucially, government must also make sure it extends the Self-Employed Income Support Scheme to all self-employed people. The gaps in support in the first lockdown – such as limited company directors and the newly self-employed – led to the biggest drop in self-employed numbers on record. Many thousands lost their freelance businesses and were driven onto Universal Credit.

“Now, those limited company directors and other excluded self-employed who made it through on their savings face financial calamity if they do not get support in this second lockdown. Government must urgently increase the amount paid through SEISS and extend it so that all of the UK’s 4.6 million self-employed are supported.”

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