Since the launch of the Coronavirus Job Retention Scheme (CJRS) and Self-Employment Income Support Scheme (SEISS), the UK Government has supported the wages of 15,400 employees and 6,100 self-employed individuals across the Isle of Wight.
The CJRS and SEISS schemes are run by HM Revenue and Customs (HMRC) as part of a package of support measures for businesses affected by the coronavirus outbreak.
Businesses have furloughed 1,035,400 jobs in the South East and 15,600 on the Island (up to 31st May 2020), since the CJRS was launched on 20th April 2020. This is to help UK employers who have been severely affected by coronavirus to retain their employees and protect the UK economy.
The SEISS was rolled out ahead of schedule in May and has financially supported 352,000 self-employed individuals in the South East, including 6,100 here on the Isle of Wight. Grants totalling £16.4million have been paid out to the Island’s self-employed (up to 31st May 2020) – this is a take-up of 71% with a total potentially eligible population of 8,500. The average claim is £2,700.
The Chancellor has announced an extension to this scheme. Those eligible to claim the SEISS grant will be able to claim a second and final grant in August of up to £6,750.
Rishi Sunak, Chancellor of the Exchequer, said:
“The UK Government is doing everything we can to protect jobs and businesses in the Isle of Wight and across the UK during the crisis. Our unprecedented job retention and self-employment support schemes have supported the livelihoods of millions and will help ensure our recovery is as swift as possible.”
Imagine the carnage if the GOV hadn’t done this!
The Carnage is coming when the government stop paying!
Be careful what you wish for . . .