Chancellor Outlines Winter Economy Plan to Protect Jobs

The Chancellor of the Exchequer, Rishi Sunak, presented the Winter Economy Plan to Parliament on Thursday 24 September 2020, outlining how the government will support jobs and the economy over the coming months.

 

  • The application deadline for all coronavirus loan schemes – including the future fund – has been extended to 30 November ensuring even more businesses can benefit from government-backed support.
  • More than one million businesses which have borrowed under the Bounce Back Loan Scheme will be offered the choice of more time and greater flexibility for their repayments.
  • Businesses who deferred their VAT will no longer have to pay a lump sum at the end of March next year. They will have the option of splitting it into smaller, interest free payments over the course of 11 months – benefitting up to half a million businesses.
  • The Self-Employment Income Support Scheme to be extended, supporting viable traders who are facing reduced demand over the winter months, covering 20 per cent of average monthly trading profits via a government grant.

Self-Employment Income Support Scheme

SEISS Grant Extension: what is covered by the grant, who is eligible, and how to claim.

Job Support Scheme

This Job Support Scheme factsheet explains what is covered by the grant, which employers and employees are eligible, and how to claim.

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