Chancellor Rishi Sunak delivered the 2021 financial budget, so how are the self-employed effected?
March 3 saw the unveiling of the current financial budget, addressing the main issues facing an already struggling UK economy. The plan covered Universal credit, income and corporation tax as well as another extension to the furlough scheme.
What does this mean for many South Londoners who are self-employed or freelancing; do they have the support they require to get them through such uncertain times. The self-employment income support scheme has been extended to September 2021. This is likely to please many who have struggled financially but is it too little too late?
A majority of people have felt the self-employment income support scheme is absolutely essential in keeping businesses afloat and sustaining careers, however, fingers have been pointed at the chancellor as to why the support hadn’t been in place from the very start of the pandemic.
Jerome Hanson, a Brixton based videographer discussed his opinions on the government’s financial plan and what it meant to him. He said: “personally I don’t look at the government to support me, rather I have to be to support myself”. He had also expressed his lack of confidence in the universal credit system. Jerome added: “ All these restrictions and rules prohibiting basic human interaction as well as a terrible universal credit program doesn’t bode well”.
For many like Jermone, they’ve simply had to adapt to the changing environment. With government support coming in too late, freelancers and the self-employed have long felt forgotten and have been forced to change direction entirely or reluctantly claim benefits.