Self employed financial package hailed by Mike Cherry

National chairman of the Federation of Small Businesses Mike Cherry said the FSB "very much welcome the scheme" Chancellor Rishi Sunak unveiled yesterday to help the self-employed.

On those who have been operating their own business for under a year not being able to apply for the new funding, Mr Cherry said  on another radio programme "I think the Chancellor yesterday said that the amount that some could get under Universal Credit was over £1,500 but others are saying it is just statutory sick pay and that is going to be a problem for many, many small businesses who just started up."

Questioned on a potential National Insurance hike for the self-employed, he added: "Clearly this is public money going in to support many of the self-employed, 95% the Chancellor says this will cover, let's not forget that the self-employed don't get the same benefits as the employed - they don't get maternity pay, they don't get holiday pay, they don't get auto-enrolment and other benefits.

"So it's clearly a conversation to be had but inevitably, in a crisis like this, I think all of us are going to have to pay a little bit more."

Published: by Radio NewsHub
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