Rishi Sunak speech....

[unhappyclap]

What are people thinking so far?

I cannot pay my council tax, bills, food and part-rent on UC of around £480 per month. Every self employed person has just been thrown under the poverty bus

Same as anyone on benefits, isn’t it? Apparently that’s too much money for people on benefits. We can’t have it both ways.

Actually my husband is self employed, so take the judgement elsewhere.

He's on fire. Massive support.

Does anyone think a Labour government would be handling this better?

What if the HB doesnt cover Londoners rent

Housing benefit rates are being increased to help with this. The new rates will be equal to the amount needed to cover the full rent for 30% of the local rental properties.

In most of London, the current rates often will not cover the rent of any properties in the borough. However, now the rates must at least cover the cheapest 30% of private rental properties.

No, it may not cover each persons full rent but it will pay a lot more than it did before.

My job is as the username suggests. Sole trader, self-employed.

I am now on absolutely zero income, and will be for any kind of foreseeable future.

I still have to pay bills.

However, I have money invested in the holiday let property, which would normally exclude me from any kind of benefits.

What's going to happen to people in this kind of situation?

Can self employed still claim universal credit if their income stream stops but they live with a partner who is still earning his normal salary?

Is the money the government is pledging to businesses to pay people wages a loan that they will eventually have to pay back?

No, it is a grant.

well at some point we will pay it back through taxes I guess

This is an unprecedented global pandemic. The economic casualties will be legion. Travel and tourism across the globe has ground to a halt. There is carnage on the stock market, the oil price is sinking, ports are closed, borders are closed. Across the planet. What precisely do you expect the government to do? They have cranked up the printing press and are firehosing billions.

This. Exactly this. I am astounded by anyone who thinks this government isn’t doing everything they can. This package is incredibly generous. Some of you need to grow up.

Agreed, overall they have tried. No one has any experience in this situation so just see what happens, they may indeed improve the self employed contribution.

Can self employed still claim universal credit if their income stream stops but they live with a partner who is still earning his normal salary?

They will have to claim as a couple and will be assessed on household income.

As an nhs worker I've seen so many posts this week from nhs workers saying they should have a pay rise, or bonus, or free travel etc etc. Everyone in the country is being affected. My sister is a teacher and from now until Sept she will be working 7-7 babysitting key workers kids, her hubby has been laid off, shes happy to help and doesnt expect any more money. supermarket workers are exhausted and on minimum pay, delivery drivers are doing their best. Demanding more money and perks at this time is crass. It's shit, for everyone.

We are lucky we have a secure job, yes it's back breaking and scary but we are in the midst of a global emergency! Stop the whataboutery. Let's just get on with the job at hand.

Does anyone have a link to the amount of tax paid by PAYE and Self employed businesses? I wonder if that's whats driven the decision. I'm self employed myself but it wouldn't surprise me if they've drawn off 'officia'l figures.

However, I have money invested in the holiday let property, which would normally exclude me from any kind of benefits.

Similarly, I'm pretty sure if you have anything from £6k in savings it'll affect how much UC you are eligble for.

There is no magic money tree. I am self employed and have been most of my adult life. When you’re SE you know full well you do not get paid holiday, paid sick leave, paid maternity etc. None of the extra benefits of being employed. You have to plan for disaster because at any time you could be taken unwell or lose your client base. That is why the SE have to save and budget to be able to cope in crisis. How the SE on this thread can now moan about the government assistance on offer is quite mind boggling. As others have said. People are dying. Old people are isolated. The NHS staff are working like dogs to help and SE are complaining because they want more. Wow.

It’s not crass. We should be supported like people who can’t work are.

Also to be fair, the weather is warmer now so 80% wage will not be affected by heating bill.

@HolidayLetter - There have been no changes announced (so far) which change the rules in regards to investment income/income from property etc. If you have stopped receiving income from this then obviously you will be assessed without that income.

However, if nothing has changed these rules, for now anyway, have not changed, People will be expected to sell assets before claiming benefits.

I have 6k in savings but it’s tied up in a bloody fixed 5 year bond and they are not letting me withdraw it early. So annoying knowing I have that money and can’t get to it

What about unemployed? Those on jsa? Don't they already get HB and tax credits? These people are not actually losing any money by having to stay at home. This is about working people losing income.

Seriously, even if he offered everyone a gold egg laying goose people would still moan!

fivesecondrule It’s not the tax. The tax regime for both is the same personal tax rules. It’s the NIC. On PAYE class 1 rate is 12% compared to self employed class 2&4 which are £153.00 something per year for class 2 as it’s a set weekly amount and if your profit is above 6k something and the class 4 is 9% if your profit is above a certain limit with an additional 2% over 50k.

some people dislike Boris and Tories so much ( maybe with reason) that even if he said he was giving everyone 25K a year no questions asked some would still complain it wasn't 40K
no body could plan for this amount of economic upheaval
I think it is very generous obviously in the future it will need to be paid back somehow into economy but that's for another day
They can't give money they don't have even the trade unions think it is OK
I think zero hour contract people on payroll will be upto 80% of average over last 13 weeks or something ( to be decided) he also said backdated to March 1st
There is a limit to how much detail and process anyone whether chancellor etc can do in a few days you can draft 5000 policies overnight

They have said the wage support is grants, but also that the first will be "weeks away" and they hope to be fully up and running by "the end of April". The reality is people will have to be put on lay off before then.

I'm hoping they will use payroll figures from End Feb so that those businesses who maybe have to put people on unpaid leave/short hours/layoff in the short term are then able to claim for them and pay them once the money comes through. It's better they get it a few weeks late than not at all. Many businesses won't have the money for full payroll by end March.

It's also no good for self employed - which actually covers us as whilst we employ 20 DH is S/E (long story, there is a good reason for it and he was going ltd in april.)

I think it is incredible impressive. I am blown away.

However 50% of employees at my job have been cut today! Does anyone know if there is still a chance for them to get their jobs back?