Epidemic state aid: how much Britain will receive

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Around half a million British citizens applied for state aid on the day the state program began

State aid due to COVID-19 epidemic: how much they promised the British. Photo: insider.com

On the day of the launch of the State Assistance Program on Wednesday, 13 May, British authorities received over 440 thousand applications from self-employed Britons. British Finance Minister Rishi Sunak said this.

Under the program, residents of the country can expect to receive a grant of up to 7.5 thousand pounds ($ 9.142). According to the craze, the total support required in applications is 1.3 billion pounds ($ 1.5 billion). The aim will be to cover the lost income due to the coronavirus epidemic. According to analysts, this amount could reach 10 billion pounds (12.2 billion dollars).

Previously edited Payspace magazine The British Government shared information about helping businesses and citizens during an epidemic:

  1. £ 330 billion ($ 408.8 billion) loan and guarantee for allotted businesses
  2. £ 20 billion ($ 24.8 billion) in tax incentives and cash subsidies
  3. His Majesty’s Ministry of Management for Tax and Customs (HMRC) has deferred VAT for the current quarter
  4. As part of the government’s Coronavirus Job Retention Scheme program, employers who cannot trade during an epidemic will receive 80% of their salary / income per month (up to £ 2.5 thousand – a little over $ 3 thousand) ; Self employed citizens
  5. Provision for single social payment and tax subsidy of £ 1,040 (about $ 1.2 thousand)
  6. In addition, 1 billion pounds ($ 1.2 billion) allocated to help tenants
  7. A 3-month mortgage holiday has been introduced for all citizens affected by the crisis, including owners of rental properties

you are interested in:
Working during an epidemic: how coronoviruses affect residents of different countries
Coronaviruses and Economics: How States Help Businesses

According to the content uk.reuters.com


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