Martin Lewis tells self-employed to 'hold on' and predicts government aid announcement this week
24 March 2020, 11:47
The Money Saving Expert has shared important information for the self-employed amid the coronavirus pandemic.
Martin Lewis has announced that the government are working on an aid package for the self-employed, and that it should be announced 'this week'.
Speaking in a clip posted to Twitter, he said: "I'm very aware of how difficult the scenario is right now, you may have no income coming in and feel there is very little support from the state."
Martin then went on to reveal that the government has confirmed that they are working on a support package for the self-employed. He said: "The first is, I have it confirmed from the government that they are working on a support package for the self-employed right now.
"There are a lot of technical challenges to doing this, which is why it's taking a bit more time, but this is a pressing priority - and they hope to make an announcement this week, which means by Friday at the latest. Although they do say hope, so it could spread on a little bit beyond that."
He added: "I don't know what the support packet is, but one would assume they're looking to put the self-employed in some sort of parity with employees who are getting 80 per cent of their salaries, up to £2,500 paid by the government if they can't work or there isn't work available - so I'd be looking to see something like that, and I'd be looking to see an announcement this week."
Martin urged the self-employed to "Hold on. don't make drastic changes yet - wait to see what that support package is."
You can watch the full clip of Martin Lewis' advice for the self-employed below:
Last week, The Chancellor of the Exchequer Rishi Sunak announced aid for employed people who are unable to work amid the coronavirus pandemic.
He revealed that the government will pay them 80 per cent of their wages - up to £2,500 a month - if they are kept on by their employer.