Economy
BCC calls for urgent help for businesses on their knees The BCC said cash-strapped businesses needed measures to support cashflow, such as extending and expanding business rates relief, prolonging VAT deferrals and offering an immediate, further round of upfront cash grant support – at least equivalent to levels of around £25,000 available in the first national lockdown – with sufficient funds to provide for all businesses that need it in every sector. The organisation also wants Chancellor Rishi Sunak to maintain the Job Retention Scheme until a full reopening of the economy is possible, and expand income support for limited company directors. Businesses cannot afford to wait until the Chancellor’s budget in March, the BCC said. They need these measures now and a guarantee that support will be available throughout the year so they can plan for more than a few weeks ahead. The impact of the pandemic is increasingly being felt away from the sectors which have been most obviously hit by the restrictions, such as hospitality and leisure.
16 Southwark BUSINESS TODAY
