Dr Ben Spencer MP has called on Government to review proposals for a Director’s Income Support Scheme and bring forward measures to support company directors who have been affected by the pandemic and who have not been able to access any of the existing support schemes.
Dr Ben Spencer said:
I have written on a number of occasions to Treasury Ministers, urging them to find ways to support company directors paid through dividends whose businesses have been affected by the pandemic.
Proposals supported by the Federation of Small Business have now been put to the Government, and I hope that we will shortly be able to offer company directors, many of whom provide vital jobs and services in our communities, with much needed support.
The Runnymede and Weybridge MP has met with numerous company directors in recent months who have been affected by the pandemic, and met with Treasury Minister Jesse Norman last year. He is seeking a further meeting to discuss the latest proposals and what can be done to make this work.
Many company directors are unable to access the job retention scheme or self employment support scheme as they take only a nominal salary from their company and receive the majority of their income as dividends.