Thousands of self-employed face ‘financial calamity’, warns IPSE

(2 minutes to read)

IPSE: ‘The gaps in support in the first lockdown – such as limited company directors and the newly self-employed – led to the biggest drop in self-employed numbers on record’.

With England now in its second national lockdown, the IPSE is warning that thousands of self-employed professionals will come into financial difficulties unless they receive further government support.

Derek Cribb, CEO of IPSE (the Association of Independent Professionals and the Self-Employed), commented, “Government must urgently fix the unfair disparity between employee and self-employed support. Right now, the self-employed can claim just 40 per cent of their earnings compared to 80 per cent for employees through the extended furlough scheme. This cannot stand as we enter a second national lockdown.”

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Cribb added, “Crucially, government must also make sure it extends the Self-Employed Income Support Scheme to all self-employed people. The gaps in support in the first lockdown – such as limited company directors and the newly self-employed – led to the biggest drop in self-employed numbers on record. Many thousands lost their freelance businesses and were driven onto Universal Credit.

“Now, those limited company directors and other excluded self-employed who made it through on their savings face financial calamity if they do not get support in this second lockdown. Government must urgently increase the amount paid through SEISS and extend it so that all of the UK’s 4.6 million self-employed are supported.”

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