Government has thrown a major lifeline to self-employed individuals whose revenues have all but disappeared due to business closures, as a result of the COVID-19 pandemic.
Prime Minister Mia Amor Mottley announced the launch of a one-time Business Cessation Benefit for the self-employed that would see them receiving $1500 per month for April and May.
The Prime Minister explained that self-employed persons who made contributions to the National Insurance Scheme were not entitled to unemployment benefit, but she was cognizant of the genuine need by this segment of the population and the need to show that the Government “cared for all”.
“For those persons who have paid NIS as self-employed persons, and there are roughly just under 2,800 persons, will now be entitled to draw $1,500 at the end of April and $1,500 at the ending of May. This will cost the NIS the sum of $8.5 million and will be paid out of the monies that we will be providing to enhance the National Insurance Scheme’s liquidity over the course of the next few weeks.”