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TOPIC: Universal credit reforms risk 'crushing' hopes of self-employed people

Universal credit reforms risk 'crushing' hopes of self-employed people 01 Jul 2018 16:35 #9074

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Universal credit reforms risk 'crushing' hopes of self-employed people, warn MPs
Some 5m people are now self-employed, accounting for 15 per cent of the British workforce

Lizzy Buchan Political Correspondent

Thursday 10 May 2018

Theresa May’s flagship welfare policy risks “crushing” the prospects of millions of self-employed workers, an influential committee of MPs has said.

A new report by the Work and Pensions Committee said universal credit was “designed with little regard for the reality of self-employed work” and poses a “very real risk” to entrepreneurship and the wider economy.

New rules mean business owners must show they are earning a minimum amount after a year to qualify for universal credit - so the state is not subsidising unprofitable firms - but MPs have warned it was too short for startups to get off the ground.

The concerns are latest in a long-running row over the overhaul of the benefits system, which merges six existing benefits into one single monthly payment.

Frank Field, Labour committee chairman, urged ministers to extend the cut-off period to three years or risk forcing potentially viable start-ups to close.

“Universal credit was not designed with self-employment in mind and it shows,” he said.

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DON'T; Let anyone talk you into becoming Self-Employed, you will loose out big time,
The days of starting your own Business has gone, destroyed by this Tory Government :angry:
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