The Chancellor’s announcement earlier today of grants of up to £9,000 for hospitality businesses until Spring is simply not enough, not nearly enough.
With the prospect of no customers until March at the earliest and bills such as rent continuing to mount up, only the smallest businesses will see up to £9,000 as any sort of tonic to their cashflow crises.
Rishi Sunak when asked about further support today said: “We’re having a budget early in March, and all of our economic support, including the announcement today, runs through to this spring. So I think the budget in early March is an excellent opportunity to take stock of the range of support that we’ve put in place, and to set out the next stage, our economic response to coronavirus at that particular time.”
As a banker and businessperson Rishi Sunak will know that his latest effort is largely inconsequential. He will also know that all too many businesses will be unable to hang on until March. So, that does indicate that Government has decided already it will not support businesses any further than this token ‘political’ gesture.
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Hospitality & Catering News: Chancellor’s £9,000 gesture signals end of meaningful support – 5 January 2021 – Chancellor’s £9,000 gesture signals end of meaningful support
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