RISHI TO THE RESCUE
Well – I, perhaps like you have just watched Friday (20th March 2020) evening’s PM announcement. It included a huge set of commitments and financial stimulus from the Chancellor Rishi Sunak. I’m just going to leave it here, with a slight lump in my throat, that this is fantastic news. Compassion and help. The enormity of his financial package will eb scrutinised and assessed, but the point is bluntly – a shot of confidence, we are in this mess together and we will help each other out of it.
There is fantastic news for employers, with a scheme to pay 80% of salary up to £2,500 a month. That is a huge commitment. July 31st self-employed tax payment can be deferred until January 2021 and VAT is also deferred by 3 months. This is not saying that taxes will not be paid but giving a very direct and real injection of cash into the system to protect each one of us.
The detail we will turn to, but for now, I’m going down the path of the optimist and if my hunch is right, Rishi has just scored a hat trick in the world cup final… well the equivalent. I hope you agree that this is good news. We rise together.