Chancellor must fix 'black hole' in business support

Liberal Democrats have warned the Government that small businesses face a 'black hole' in support, risking thousands of closures and job losses.

Furlough begins to taper away and the business rates holiday comes to an end on July 1st. However, restrictions are set to remain in place until 19th July.

Liberal Democrat Spokesperson for Treasury, Christine Jardine MP said:

"This Government seems incapable of hearing the many voices telling them loudly and clearly how desperately small businesses need support to help them cope with the extra period of restrictions, and beyond.

"It is completely incomprehensible that the Chancellor is prepared to end so many of the support mechanisms before firms even have a chance to open their doors and start trading.

"Why support them for this long and then not see them through to the end?

"The black-hole in business support they have created is particularly unfair to the night-time economy, which is being forced to set aside thousands of pounds before able to welcome a single customer.

"The Chancellor has taken his eye off the ball and needs to come up with a long term plan before it is too late. Thousands of closures and job losses are at stake."