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U.K. Self-Employed Aid Plan Has 1.1 Million Applicants in 2 Days

U.K. Self-Employed Aid Plan Has 1.1 Million Applicants in 2 Days

(Bloomberg) -- Some 1.1 million self-employed people claimed assistance from the U.K. government in the first two days of a program to help them weather the coronavirus lockdown .

The claims so far total 3.1 billion pounds ($3.8 billion), the country’s tax authority, Her Majesty’s Revenue and Customs, said in an emailed statement on Friday.

Claimants are entitled to one-time grants totaling 80% of their monthly earnings for a three-month period, based on the past three years of trading profits. The government aims to pay claimants within six days.

As well as the assistance to the self-employed, the U.K. is protecting 7.5 million jobs by paying furloughed workers 80% of their wages, up to a maximum of 2,500 pounds a month.

©2020 Bloomberg L.P.