Asked by: Jane Stevenson (Conservative - Wolverhampton North East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what support he is providing to self-employed people who did not meet the eligibility requirements for the Self Employed Income Support Scheme in March 2020.
Answered by Jesse Norman - Shadow Leader of the House of Commons
Those not eligible for the Self-Employment Income Support Scheme (SEISS) may still be eligible for other elements of the unprecedented financial support available. The Government has temporarily increased the Universal Credit standard allowance for 2020-21 by £20 per week and relaxed the Minimum Income Floor meaning that where self-employed claimants' earnings have significantly reduced, their Universal Credit award will have increased to reflect their lower earnings. They may also have access to Bounce Back loans, tax deferrals, rental support, mortgage holidays, and other business support grants, with a new extended deadline of 30 November.
In addition to this, up to half a million businesses which deferred their VAT bills will also be given more breathing space through the New Payment Scheme. This gives them the option to spread their payments over the financial year 2021-2022. In addition, all 11 million UK self-assessment taxpayers will be able to benefit from the recently enhanced Time to Pay ‘self-service’ facility to form a 12-month, interest-free payment arrangement for up to £30,000 of self-assessment debt.
Asked by: Jane Stevenson (Conservative - Wolverhampton North East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to provide support to (a) local newspapers and (b) community magazines during the covid-19 outbreak.
Answered by Kemi Badenoch - Leader of HM Official Opposition
The Government recognises the important role that media organisations, including newspapers, play at a national and local level in ensuring the provision of trusted, high quality information.
On 30 April the Government announced that the Cabinet Office would spend up to £35m from April to June to place Covid-19 public health messages in local and national newspapers. This advertising partnership with UK media titles leverages the familiar voices of over 600 national, regional and local titles across England, Wales, Scotland and Northern Ireland. The Cabinet Office is consistently tracking and reviewing spending on the campaign to ensure efficiency and that the appropriate communications strategy is implemented.
In response to the coronavirus outbreak, the Government has also brought forward the introduction of the zero rate of VAT on e-publications to 1 May 2020, seven months ahead of schedule. This measure will help to reduce the cost of access to online publications.
Asked by: Jane Stevenson (Conservative - Wolverhampton North East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to increase the support that community development financial institutions can offer to SMEs during the covid-19 outbreak; and if he will make a statement.
Answered by John Glen
The Government recognises the vital role that non-banks – including Community Development Finance Institutions (CDFIs) – play in the provision of credit to SMEs. It is grateful for the way the sector has responded to the current crisis and remains committed to promoting competition and widening the funding options available to UK businesses.
The Government’s Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to SMEs across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak. Of the 80 lenders currently accredited by the British Business Bank to offer these loans, 15 are CDFIs. The Government welcomes CDFIs’ participation in CBILS, as well as their continued work to support SMEs beyond this loan scheme.
On broader support for CDFIs, Fair4All Finance, the independent body set up to distribute dormant assets funding to support financial inclusion, has set up a £5 million resilience fund to support credit unions and CDFIs in England. Fair4All Finance have also launched their Affordable Credit Scale-up Programme, designed to provide tailored support?to?sustainably scale?affordable credit.
On 20 May, the Government announced that £65 million of funding through the dormant assets scheme will be released immediately to Fair4All Finance, to increase access to fair, affordable and appropriate financial products and services for those struggling financially, particularly in light of the coronavirus outbreak. This includes an expanded Affordable Credit Scale-up Programme, which aims to improve the access and availability of affordable credit. Additional funding will be made available to the devolved administrations under normal processes through the dormant assets scheme, to be distributed as they see fit.