Source · Select Committees · Treasury Committee
Recommendation 3
3
Paragraph: 34
Given the economic outlook, we believe that the Government was right to extend both the...
Conclusion
Given the economic outlook, we believe that the Government was right to extend both the Coronavirus Job Retention Scheme and the Self-employment Income Support Scheme to the end of April 2021. However, given the extended duration of restrictions, we believe the Government was wrong not to address gaps in support.
Paragraph Reference:
34
Government Response
Acknowledged
HM Government
Acknowledged
On your recommendation regarding the Coronavirus Job Retention Scheme (CJRS) and the Self-employment Income Support Scheme (SEISS), you noted that the Government had made the right decision to extend this support to April 2021. The Government recognises that it will take longer for demand to return for some parts of the economy, and that is why we have extended CJRS and SEISS even further, until September. The CJRS has helped to pay the wages of people in 11.4 million jobs across the country, with more than £53 billion paid out in grants across the UK, protecting jobs that might otherwise have been lost. Meanwhile, the SEISS extension provides certainty to business as the economy reopens and means the SEISS continues to be one of the most generous schemes for the self- employed in the world; the fourth and fifth SEISS grants are an estimated £13.5 billion of additional support, taking total support for the self-employed to over £33 billion since the start of the pandemic.