ICAEW comment on measures announced by the Chancellor
Thursday 22 October 2020: Responding to the new measures announced by Chancellor Rishi Sunak today, Iain Wright, ICAEW Director for Business and Industrial Strategy, said:
“With large parts of the country now facing varying degrees of restrictions, it is right that the government has provided a flexible package of measures to support struggling workers and businesses in the sectors most affected.
“The fundamental revision to the Job Support Scheme, backdated cash grants for the hospitality and leisure sectors and further help for the self-employed show the Chancellor is listening to the concerns of those on the ground. While this targeted approach will go some way to balance public health concerns and the economy, disruption to hard-hit supply chains and falling customer demand could continue to cause problems, and further intervention may be needed.
“With a second wave threatening to sweep over more regions of the country, the government will need to respond quickly to safeguard businesses, jobs and livelihoods across the UK.”
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