Martin Lewis highlights the HUGE thing affecting 1million people we all missed in Budget | Personal Finance | Finance
Martin Lewis, 48, appeared on the Andew Marr show this morning to go over today’s news. The money saving expert spoke out about the Budget, and highlighted Limited Company Directors and the continuing lack of support offered to them.
Martin said: “Normally each yea the Budget’s aren’t that big as a money saving expert, because they are about macro economic policy and the state of the economy in its totality and it’s for economists.
“This year was different, this year was a big personal finance budget.
“Big stories out there that we’ve not seen, the first one…the excluded group is one of the biggest stories in the nation right now.
“If you ask me to glibly sum up this year’s Budget, it would be those people who’ve been helped will continue to be helped, those people who haven’t, will continue not to be helped.
READ MORE: IR35 changes to occur as Rishi Sunak pushes ahead – but ‘regret’ for self-employed
“Would anything in this Budget help that over one million people who are desperate? Some talk about taking their own lives on the back of not being able to support their families.
“And the answer was no.
“And when I interviewed the Chancellor on Thursday about this, and I pushed as to why not, but he wasn’t going anywhere, my final question is ‘should we close the door? Are we telling limited company directors no help is coming for them?’ And he said yes.
“And that story’s been missed, and it’s so important to many people’s lives.”
On the Martin Lewis Money Show this week, Martin showed a pre-recorded post-Budget interview with the Chancellor, and Martin opened the floor to questions from viewers to ask Mr Sunak for the interview.
Businessowner Gemma asked: “Why on earth have you excluded limited company directors yet again? We were teetering on the edge and you just threw us overboard.”
Mr Lewis went on: “They’re saying you don’t understand what the word business means. What is it that you’ve got against the limited company directors that they’re completely without support?”
Mr Sunak replied: “I wouldn’t think it’s fair to say that they’re completely without support. There are so many different things we’ve done.”
Mr Lewis interjected: “Ok, there’s Universal Credit and other small things but they haven’t had the support that other businesses and the self-employed have had.”
The Chancellor continued: “They can be furloughed for their PAYE income.
“Their business may be able to benefit from a bounceback loan and in their personal situation, they may have been able to benefit from a six-month mortgage holiday. Also there’s all the other welfare changes we’ve made.”
He added: “But the simply thing with directors has been a real challenge and I, my team, my ministerial colleagues have met with groups, looked at options and there just isn’t a workable option.”
For confidential support call the Samaritans in the UK on 116 123 or visit a local Samaritans branch.