Chancellor Rishi Sunak has thanked businesses for their work to support employees during the COVID outbreak.
Speaking at the Conservative Party Virtual Conference, the Chancellor highlighted the efforts made to protect jobs and the economy as the COVID outbreak caused serious disruption. He praised businesses for working with the Government to help their employees through the crisis.
He said: “You, the people, have been with us. Wherever I look, I see acts of decency and bravery. Thank you to all those business owners, large and small, who are making the right decisions for workers and customers.”
Since the outbreak of COVID-19 the Government has provided £190 billion of support for businesses and workers, which has included:
• The SELF-EMPLOYED SUPPORT SCHEME – critical support to the self-employed struggling during the crisis • EAT OUT TO HELP OUT – discount meals to boost restaurants and cafes. • The PLAN FOR JOBS – plans to boost job creation in the UK. • The JOB SUPPORT SCHEME - to protect viable jobs in businesses who are facing lower demand over the winter months due to Covid-19. • VAT cut to 5% for the tourism and hospitality sectors affected by forced closures and social distancing measures. • £35bn of BOUNCE BACK LOANS to over 1million small businesses • The PAY AS YOU GROW SCHEME – extending the repayment period for Bounce Back Loans • A STAMP DUTY holiday – to boost the housing market • A £2 billion GREEN HOMES GRANT programme - vouchers towards the cost of installing energy efficient improvements to homes and unlock work for thousands of plumbers, builders & tradespeople • The £2 billion KICKSTART SCHEME - to pay employers to create new jobs for any 16-24 year old at risk of long-term unemployment • Nearly 1million BUSINESS GRANTS • A 12-month BUSINESS RATES HOLIDAY • Over 60,000 CORONAVIRUS BUSINESS INTERRUPTION LOANS • The FUTURE FUND - to support continued growth and innovation in sectors such as technology, life sciences and the creative industries • TAX DEFERRALS • Support for our brilliant CHARITIES • Over £8 billion of extra funding to SUPPORT OUR MOST VULNERABLE • A SIX-MONTH MORTGAGE HOLIDAY • The FURLOUGH SCHEME, a first of its kind intervention in UK political history, delivered at scale, devised in rapid time, that protected millions of British families at the most acute stage of this crisis.
Speaking of this unprecedented package of support, the Chancellor said: “It has been for many, for the first time in their lives, a moment in which government ceased to be distant and abstract, but became real, and felt, and something of which people could be proud. Action met words.”
North Swindon MP Justin Tomlinson said: “I am very proud of the significant level of support provided by the Government during the crisis, and the speed at which it was implemented”