In today's statement by the Prime Minister, he was joined by the Chancellor of the Exchequer Rishi Sunak and Jennie Harries deputy chief medical officer
Speaking today in his Coronavirus statement, the Prime Minister said, ''Bit by bit, day by day, by your actions, your restraint and your sacrifice, we are putting this country in a better and stronger position, where we will be able to save literally thousands of lives, of people of all ages, people who don’t deserve to die now.
'People whose lives can, must, and will be saved.
'And as we take these actions together and as we make these sacrifices, we can see the impact on the real economy.
'Already, fantastic British companies, already under huge strain, big and small. Workers who are finding that their jobs are under threat or are going, through no fault of their own. And to all of them, we in government say:
'We will stand by you.'
Chancellor of the Exchequer Rishi Sunak went on to announce some unprecedented support packages for businesses which are summarised here:
Grants of 80% of salaries up to £2500 per retained employee backdated to 1 March to enable employers to retain staff
For the new business interuption loans, interest rates will be zero for 12 months not 6 months as previously announced
Deferred VAT payments for all businesses for next quarter until the end of June
Universal credit increased by £1000 for 12 months
Basic working tax credit increased by £1000 for 12 months
Minimum income levels have been reduced to zero to allow the self employed to have easier access to tax credits
For self employed payment of any July tax payments in advance have been moved to January 2021
