Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of removing the £50,000 eligibility cap for the Self-Employed Income Support scheme for people classed as key workers.
Some 95% of people who receive the majority of their income from self-employment could be eligible to benefit from the Self-Employment Income Support Scheme (SEISS). The scheme, including the £50,000 threshold, is designed to ensure it is targeted at those who need it the most, and who are most reliant on their self-employment income.
Those with average profits above £50,000 could still benefit from other support. The SEISS supplements the significant support already announced for UK businesses, including the Coronavirus Business Interruption Loan Scheme and the deferral of tax payments. More information about the full range of business support measures is available at www.businesssupport.gov.uk/coronavirus-business-support/.