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Martin Lewis on the self-employed: ‘Hold on, I think something will come’

Martin Lewis is clearly sticking to government self-isolation advice. Rather than his usual format of giving advice within the studio, Martin video called the This Morning team to have a life Q&A about coronavirus and finance with viewers at home.One of those viewers, Roxanne, called in to detail that she was worried about her self-employed…

Martin Lewis is clearly sticking to government self-isolation advice. Rather than his usual format of giving advice within the studio, Martin video called the This Morning team to have a life Q&A about coronavirus and finance with viewers at home.

One of those viewers, Roxanne, called in to detail that she was worried about her self-employed situation.

She asked Martin about what measures are in place specifically for sole traders.

Martin nodded along in a supportive manner, he detailed that he has been swamped with questions from self-employed people who are worried.

He detailed that, in his view, the government is “attacking the lowest hanging fruit”.

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Martin Lewis

Martin Lewis appeared on This Morning to give advice (Image: ITV / GETTY)

Universal Credit

Martin highlighted Universal Credit as a solution (Image: EXPRESS)

He mentioned the measures that have been put in place for employers and employees alike but acknowledged that more needs to be done for the self-employed.

While acknowledging that this is difficult for everyone, he pleaded with people to “give the government patience”

Briefly, he highlighted some of the options available for self-employed people.

This included the possibility of utilising earning support allowance or universal credit.

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On top of this, he also detailed that is possible to defer a tax self-assessment which can save people money on their tax bills.

His main plea however was focused around patience.

While repeating his view that not enough has been done for the self-employed, he holds out hope that this will change.

Within the next couple of days, possibly by tomorrow, Martin feels that the government will make further supportive announcements specifically for the self-employed.

Coronavirus

Coronavirus has forced the government to take action (Image: EXPRESS)

He asked all viewers affected to not make any drastic decisions.

As he summarised: “Hold on, I think something will come.”

Currently, the government has revealed huge support packages for businesses and individuals alike.

While welcome, some have detailed that these support efforts don’t go far enough or that they’re too late to be effective.

Mortgages

Home owners have also received support (Image: EXPRESS)

However, Rishi Sunak has promised to support the economy and the people within it no matter what.

So far the measures put in place are already the biggest stimulus packages in British peacetime history.

The Bank of England has also lowered the base rate to 0.1 percent, the lowest in its history, in an effort to support the economy.

The government is also updating it’s website on almost a daily basis with information on coronavirus. 

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