The government has announced further details of its measures aimed at supporting business during the Coronavirus pandemic.
This includes a package of measures to support businesses including:
- a statutory sick pay relief package for SMEs
- a Business Rate Relief for small businesses and pubs
- small business grant funding of £3,000 for all business in receipt of Small Business Rates Relief (SBRR) and Rural Rates Relief
- the Coronavirus Business Interruption Loan Scheme to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance
- the HMRC Time To Pay Scheme
Read more here.
Mark Tanzer, ABTA chief executive, says: “This evening’s announcement by the Chancellor is a positive statement of intent, we will need the Government to follow-through on its commitment to ‘do whatever it takes’ to support struggling UK travel businesses.
“We also need to see some of the measures announced today, such as the government-backed loan scheme, made immediately available to travel businesses, and further clarity on how businesses will be able to access these loans. It is also essential the Government acts immediately by making temporary changes to existing package travel regulations.
“The existing financial protection structures and processes designed to protect UK consumers were not designed to cope with the demands that are currently being placed on them.”