A RECENT report on the economic impact of Covid-19 in the UK, the Treasury Select Committee revealed that many self-employed workers and those who were appointed just before the crisis, have missed out on financial help.
The report praised the Chancellor, Rishi Sunak for acting at an “impressive scale and pace” with his response to the pandemic. Sunak was quick to draft a raft of measures aimed at protecting businesses during lockdown, although there were clearly cracks in the system.
The report states that ‘the Treasury’s interventions have been welcomed by many but rolling out financial support at pace and scale has inevitably resulted in some hard edges in policy design and some critical gaps in provision.’
‘The government must assist these people if it is to completely fulfil its promise to do whatever it takes to protect people from the economic impact of coronavirus.’
The report indicates there are more than a million self-employed workers and new employees who have fallen through the cracks. This has led to increased hardship for many workers, who may have been in low-income jobs before the crisis hit.
The long-term economic impact of coronavirus is likely to be a drag on the British economy for the coming years.