Rishi Sunak is riding high in the polls, but will his ‘you will not be forgotten’ promise come back to haunt him a la George Osborne’s ‘we’re all in this together’?
2 million small businesses have been forgotten. As owner/directors of limited companies they didn’t get any income support at all, because they pay themselves via dividends. Most didn’t qualify for grants.
Dividends count as ‘income’ when you’re getting a mortgage, but not if you want financial help during a pandemic. Go figure.
Whitehall bureaucrats claim it’s all ‘too difficult’ to fix, forcing these businesses into debt via ‘Bounce Back Loans’.
While big corporates have availed themselves of the full range of taxpayer support, the smallest businesses have been left with virtually nothing. Not a great look for the ‘People’s Party’.
With Tory MPs clamouring for a stimulus package, there is a simple fix: abolish the debt and turn Bounce Back Loans into grants for forgotten businesses.
Find out more: ForgottenLtd.com