PFS: Government support will help those who fall through cracks of CBILS and JRS

Jessica Bird

May 4, 2020

cracks in government support

Professional body the Personal Finance Society (PFS) has commended the government support being put in place for those who might fall through the cracks of the Coronavirus Business Interruption Loan Scheme (CBILS) and Job Retention Scheme (JRS). 

As part of ongoing government support measures, HM Revenue and Customs (HMRC) has launched its Bounce Back Loans scheme for small businesses, and will commence contacting potential claimants for the Self-Employment Income Support Scheme (SEISS).

In response to these developments, Keith Richards, chief executive at PFS, said: “The Personal Finance Society welcomes the new measures the government have introduced to support businesses and the self-employed who were not able to make use of the Coronavirus Business Interruption Loan Scheme and the Job Retention Scheme launched last month.

“The economic crisis we are in the midst of is unprecedented and has already affected businesses and individuals significantly, so we commend any measures which can ensure as few people as possible fall between the cracks and get access to much needed support quickly.

“We urge any of our members who are in need and are eligible for these schemes to make full use of them in order to ensure the vital service they provide to the public continues.

“The Personal Finance Society will continue to work with the regulator and the government, to ensure our members are supported in meeting the needs of their clients and receive the most up to date guidance to do so.”

Sign up to our daily email