Chamber response to Chancellor’s statement today
Date published:
Jonathan Walker, policy director, North East England Chamber of Commerce said: “With the furlough scheme due to end next month it was clear we needed further measures to prevent a huge spike in unemployment. The Government’s new Job Support Scheme shows they have recognised the importance of this issue and the scheme should help to preserve at least some jobs that would have otherwise been at risk.
“However, we are concerned the measures won’t go far enough for many jobs that are vulnerable and impacted by ongoing public health restrictions. The need to help businesses in sectors such as hospitality and culture has not gone away. In addition, we must support those people who will still unfortunately lose their jobs to help them retrain or potentially start their own business.
“We have also raised the issue of cash flow to protect the viability of vulnerable companies. Today’s announcement on VAT and state-backed loans demonstrate clearly Government recognises this. We realise that the measures will not be right for every business and that further economic support will be needed to prevent insolvencies.
“With reports of a delay to the Budget we are hugely concerned that this could also delay the levelling up the North East has been promised. We know this virus and the recession will affect our region more profoundly than many other parts of the country. With every week that passes the need to level up becomes more important. Delays will only acerbate the inequalities we see already.”