Statement from the Mayor of London following the Chancellor's announcement

“I am relieved that the Chancellor is finally taking action today, but it shouldn’t have taken until late September for Ministers to realise that the end the furlough scheme would potentially result in mass unemployment and hardship across the UK. Once again, the Government are playing catch up with measures that fail to address the scale of the challenge faced by London’s economy.

“Ongoing support for jobs is welcome, but it will not be enough to save businesses in London’s retail, hospitality, leisure and cultural sectors. Many are on a financial knife edge, facing a perfect storm of continued home working, the collapse of domestic and international tourism, and now further restrictions on opening hours for at least six months. More generous loans will help, but these businesses now require an urgent package of direct financial aid that can guarantee their survival.

“Many of these businesses can’t afford to keep people on even part time, with London’s nightclubs, theatres and music venues that operate late at night unable to reopen at all. And many self-employed people reliant on sectors such as our creative industries will need more support than what the Chancellor has proposed.

“I have always said that COVID-19 would require an unprecedented economic intervention from Ministers. With social distancing measures now guaranteed to be in place for months ahead, it is far better that the Government do more to intervene now, than we see the tragedy of more unemployment, families pushed into poverty and even homelessness.”