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The Chancellor said the Government was responding to the "rapidly changing health picture".
He added the increased SEISS payment will help people "get through the months ahead".
But for many, the SEISS scheme has not provided enough support for the self-employed, with many excluded from the scheme since its establishment earlier this year.
Roger Barker, director of policy at the Institute of Directors, welcomed the move but added there were still "significant gaps in the scheme".
He said: "Many small company directors continue to go without support, it's long past time to sort this problem.”