The Government has provided a comprehensive economic response that is one of the most generous of its kind in the world, taking unprecedented steps to support families, businesses and the most vulnerable. As well as the Coronavirus Job Retention Scheme (CJRS) and Self-Employment Income Support Scheme (SEISS), this package includes Government-backed loans and grants to businesses, tax deferrals, rental support and mortgage and consumer credit holidays.
This package also includes extra funding for the welfare safety net to help those through this outbreak who are unable to access other forms of support. The temporary welfare measures include increases to Universal Credit and Local Housing Allowance, a relaxation of the Universal Credit minimum income floor, and making Statutory Sick Pay easier to access.
Now, the Government’s new Plan for Jobs will support, protect and create jobs. This plan will make available up to £30 billion to help kickstart the nation’s economic recovery ahead of a fuller package of medium-term recovery measures in the forthcoming Autumn Budget and Spending Review.