Chancellor Rishi Sunak will ‘save a staggering 1.5million jobs with his bumper bailouts’

CHANCELLOR Rishi Sunak will save 1.5 million jobs with his bumper bailouts, forecasters said Friday night.

But he faced calls to hand over £1,000 interim payments to the self-employed, who face months until they get aid.

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 Chancellor Rishi Sunak is predicted to save a staggering 1.5million jobs
Chancellor Rishi Sunak is predicted to save a staggering 1.5million jobsCredit: AFP

According to the think tank Policy Exchange, one in six people — 5.3 million  —  have jobs heavily exposed to the crisis.

More than one million are set to lose their jobs.

Dr Gerard Lyons said: “The measures will not stop unemployment rising but could save close to 1.5 million jobs.

“What Rishi Sunak has unveiled will help to keep the economy in hibernation during the crisis and leave it in a better state to recover.”

 Boris Johnson confirmed he has tested positive for coronavirus
Boris Johnson confirmed he has tested positive for coronavirus

Under the bailout, workers and the self-employed forced to stay home can claim up to £2,500 a month from the state.

Bosses who have signed up to the scheme will have their employer National Insurance contributions covered.

The Government will also cover the cost of minimum auto-enrolment pension contributions for furloughed staff.

It could save bosses up to £300 a month per employee.

And workers who cannot take their holiday will be allowed to carry four weeks over into the next two years. That kicks in immediately.


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Self-employed workers will not get any cash until June.

Manchester Mayor Andy Burnham, an ex-chief secretary to the Treasury, suggested a “blanket” £1,000 advance to tide over 3.8 million.

Meanwhile, Business Secretary Alok Sharma suggested the self-employed will have to pay more National Insurance contributions in the future.

The Sun Says

IN six weeks as Chancellor, Rishi Sunak has saved an estimated 1.5million jobs and bailed out Britain. Not a shabby start.

No wonder his approval rating is off the chart. We hope, though, he knows how tough it is for many self-employed workers to wait till June for any cash.

Manchester Mayor Andy Burnham’s call for an immediate £1,000 cheque for each, deductible from their final handout, must be worth considering.

What a difference it would make.

Chancellor Rishi Sunak tells self-employed ‘You have not been forgotten’ as he announces they’ll get 80% of their profits during coronavirus pandemic


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