Contractor groups call for emergency Coronavirus fund

A number of contractor groups have written an open letter urging the government to provide a Temporary Income Protection Fund.

The Association of Independent Professionals and the Self-Employed and the Creative Industries Federation are among the groups calling for Prime Minister Boris Johnson to protect the self-employed during these troubling times.

So far, the letter has received the support of signatories including Stephen Fry, Philip Pullman CBE, Enterprise Nation, the British Fashion Council, Directors UK, Design Council and UKIE.

Being not only a health crisis but an income crisis too, the organisations are calling on the Prime Minister for an emergency fund that gives a time-limited and carefully targeted cash grant to the self-employed businesses and contractors that need it most.

Andy Chamberlain, Director of Policy at IPSE (the Association of Independent Professionals and the Self-Employed) said, “Coronavirus is not only a health crisis, but an income crisis that threatens the self-employed in particular.

“In the last week, many of our members have reported having many of their projects delayed or even cancelled. Many we have spoken to say they have savings to last out up to two months of income interruption, but little more. The government must do more now, or risk an enormous blow to the £305bn self-employed sector.

“We are calling on Prime Minister Boris Johnson to set up a Temporary Income Protection Fund to keep our smallest businesses afloat during this crisis. This should give a time-limited, targeted cash injection to the freelance businesses that are struggling most. It is a significant ask, but it is what is needed to keep this vital sector going through these grave and unprecedented times.

“The Government must do more to support the self-employed now. They must not be left with a disastrous choice between their incomes and their health.”

Emma Jones MBE, founder small business support network Enterprise Nation, added, “It’s becoming crystal clear that the self-employed will need enhanced financial protection over the coming months and not just while self-isolating. At the moment, this issue hasn’t been tackled by the Government. While this crisis continues, we must see some fiscal intervention emerging at the very least in the next few days.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.