Self Employed – Up to 80% of Earnings, Capped at £2500 a month

Sunak says he knows many self-employed people are deeply anxious. They are not covered by the employment support packaged announced on Friday last week.

He says he is announcing a new self-employed income support scheme.

The government will pay self-employed people a taxable grant based on their previous earnings over the last three years, worth up to 80% of earnings, and capped at £2,500 a month.

It will run for a minimum of three months, he says.

He says that is equivalent to the support available to the employed.

He says this will be open to anyone with average profits of £50,000 or less.

It will be open to people who make the majority of their income from self-employment.

And, to avoid fraud, it will only be open to people who are already self-employed and have a tax return from 2019.

He says 95% of the self-employed will be covered.

It will be available by June.

And anyone who missed the deadline for their tax return will get an extra four weeks, he says.