Coronavirus Northern Ireland: Ministers welcome steps to protect the self-employed

Posted by
editor@newrytimes.com
Friday, March 27th, 2020
Coronavirus

Economy Minister Diane Dodds and Finance Minister Conor Murphy have welcomed the support package for self-employed workers that was announced by Chancellor Rishi Sunak yesterday.

The measure means that self-employed workers can receive 80% of their taxable profit over the last three years capped at £2,500 per month.

It will apply to those with trading profits below £50,000 per year.

 

 

Speaking to Newry Times, Minister Dodds said, “This is a much-needed measure which we have been asking for on behalf tens of thousands of people in Northern Ireland and I welcome it.

“The self-employed and sole traders have been waiting to receive the help.

“Previous schemes announced by the Treasury did not apply to them. So it is heartening that those workers – in all areas of our society – can now access the vital funds they need to keep going until this crisis ends.

“This will have a positive impact on many self-employed workers.”

 

 

The Minister continued, “My priority is to mitigate – as best we possibly can – against the worst effects on our communities.

“Our local Executive, as well as the government in London, have already announced several measures to help; interruption loan schemes, rates support, deferring income tax payments and deferring VAT payments.

“The Job Retention Scheme which provides up to £2,500 a month to those employees not working and increases to both working tax credit and universal credit by £1,000 per year will also help to protect our most vulnerable.

“As well as this, the first payments in the small business support grant schemes will reach recipients next week.”

 

 

The Minister added, “We will continue to do everything we can to protect the livelihoods that support our families and communities.”

Minister Murphy said, “Along with my Executive colleagues I have been pressing the Treasury to support the self-employed. While yesterday’s announcement is welcome it is concerning that these workers won’t receive this until June.

“I intend to raise this with the Chief Secretary to the Treasury while also seeking clarity on the eligibility for the Job Retention Scheme and hope that he moves urgently to provide this.”

Further information on all these schemes can be found on https://www.nibusinessinfo.co.uk

Keep up to date with all the latest Northern Ireland Coronavirus / Covid-19 news HERE

 

Be Sociable, Share!
Both comments and pings are currently closed.

Comments are closed

-->

This website does not share personal information with third parties nor do we store any information about your visit other than to analyze and optimize your content and reading experience through the use of cookies. You can turn off the use of cookies at anytime by changing your specific browser settings.

We are not responsible for republished content from this blog on other blogs or websites without our permission. This privacy policy is subject to change without notice and was last updated on 16/01/2017. If you have any questions feel free to contact Newry Times by emailing editor@newrytimes.com

Log in