Small business package ‘flawed’
THE Government has been accused of abandoning Britain’s entrepreneurs and risking “mass insolvency” because of its flawed help for the self-employed.
Phillip Blond, the director of think tank Respublica and former adviser to David Cameron and Theresa May, says people such as owner/directors are “falling between the gaps” as they often have a small salary and pay themselves dividends.
Other problems with the package are that it only covers 80 per cent of profits – not overall earnings – and, said Mr Blond, you need to be self-employed for over a year.
Cabinet Office Minister Michael Gove said aid would “principally help those on lower incomes.
“But thetreasury are keeping these schemes under review and doing everything they can working with the banks and others in trying to help support viable businesses to keep people in employment.”