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The Chancellor has announced a Self-Employed Income Support Scheme that will help millions of people across the UK, with those eligible receiving a cash grant worth 80% of their average monthly trading profit over the last three years. This covers 95% of people who receive the majority of their income from self-employment.
The government has also announced a package of temporary welfare measures to support those on low incomes through the outbreak, including relaxing the Minimum Income Floor for all self-employed claimants affected by the economic impact of COVID-19. Taken together, these measures provide over £6.5bn of additional support through the welfare system.