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Another six months of support – but millions will struggle far beyond September

The Money Advice Trust has welcomed six...

Posted March 3, 2021

The Money Advice Trust has welcomed six month extensions of various forms of financial support in today’s Budget – including furlough, the Universal Credit uplift and Self-employment Income Support Scheme grants – but warned that millions will struggle far beyond September.

Joanna Elson CBE, Chief Executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said:

“Another six months of support – whether through furlough, the Universal Credit uplift or small business grants – will come as a relief for many. Fast forward to September, however, and millions of households will still be facing financial difficulty caused by Covid-19.

“The Government must be prepared to extend its £20 a week uplift to Universal Credit beyond September if the continued economic impact of the pandemic demands it – which is all but certain to be the case. This decision needs to be taken early, and not left until a month before the uplift ends. The Chancellor said today that business needs certainty – households do, too.

“The extension of the Self-Employment Income Support is welcome, particularly for the newly self-employed who are now eligible for help. Owner-directors have yet again been excluded, however – and we urge the Government to urgently bring forward plans for how it can help, including through a discretionary grant scheme.”

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