Winter Economy Plan Part 3 - the lockdown sequel
A roundup of a series of measures announced by the Chancellor to help the self-employed and businesses over the winter period.
02 November 2020
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The Chancellor has announced a whole series of measures in a sequel to earlier measures to help businesses with the impact of the Coronavirus lockdown.
NOTE: Please see the subsequent Winter Economy Plan v 4 on 5 November which extends furlough to March 2021 at 80% and the Self-Employed grant to the same percentage.
The lockdown restrictions can be viewed here.
Whilst we have written these measures up in individual articles - linked to below - they can be summarised as follows.
The Chancellor has announced:
- An extension to the Coronavirus Job Retention Scheme (subsequently extended to March 2021)
- More generous grants for the self-employed
- Extra welfare support for the self-employed
- Cash grants of up to £3,000 per month for businesses which are closed
- Extension of existing Loan Schemes and Future Fund to 31 January 2021 and an ability to top-up Bounce Back Loans
- An extension to the mortgage payment holiday for homeowners
These announcements help businesses whether they are open or closed, and are on top of the £200 billion already committed.
They have also been summarised in a factsheet.
Other material
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Winter Economy Plan Part 2
In what have been a series of mini Budgets this year, the Chancellor has announced improved measures to help firms and workers over the coming months.
