IoD responds to Treasury business support announcement

“This new grant package is welcome, and will go some way to reassuring the worst affected businesses.

“We are particularly pleased the Treasury has taken on board our recommendation to increase the discretionary local authority grant fund. This policy has helped to reach those who haven’t been able to access other support. The Government should be prepared to top up the fund if necessary.

“The Chancellor must remain wary of a Spring cliff-edge in business support as the furlough scheme and other support measures unwind. Businesses will also be keen for the Government to continue setting out its plans for the vaccine roll-out, to support their planning. The path of the virus is extremely uncertain, and Government must be agile in its response to prevent lasting economic damage.”