‘Urgent action’ must be taken to protect more workers, says Treasury committee
Urgent action must be taken to provide economic relief for those not covered by the government’s coronavirus support packages, according to parliament’s Treasury committee.
Mel Stride, chair of the Treasury Select Committee, wrote to chancellor Rishi Sunak today to ask for an extension of the government’s self-employed coronavirus package in particular.
The committee said it must be extended to self-employed people who are listed as Personal Service Companies, who pay themselves partially in dividends, and alter the £50,000 income cut-off.
The committee has also called for the government’s wage subsidy scheme for employees to be made available to people who started for a new job after 28 February.
Stride said: “Whether it’s those who started a job after 28 February and who therefore have real difficulty qualifying for the Job Retention Scheme, those who draw down some of their income through dividends, or the time it will take for payments to reach individuals and businesses, it’s clear that urgent action is needed.”
“I have asked the Chancellor to examine the proposals in the two summaries and to set out the action that he will take to help those who aren’t currently eligible for the Treasury’s support measures.
When asked about the committee’s letter at today’s daily press briefing, Sunak said not everyone would be saved by his slew of emergency measures.
“This will have a significant impact of our economy,” he said.
“In spite of our unprecedented measures in scale and scope, I can’t stand here and say I can save every single job, save every single business or indeed every single charity.
“That’s simply not possible, but what we can do is put in an enormous amount of support in a targeted fashion.”
Early criticism of the Treasury’s economic relief measures have revolved around the £330bn coronavirus business interruption loan scheme (CBILS).
Just 2,500 businesses have been given bank loans, which are guaranteed by the government, worth £450m.