Chancellor announces an incredible £330bn pounds of guarantees - so businesses can take out loans to support themselves and employees. Says he will go further if required.
Business rates holiday announcement from last week extended - Chancellor announces all businesses in retail, hospitality and leisure sectors are exempt from business rates for 12 months.
Chancellor announces 3 month mortgage repayment holiday for those who need it.
Will raise questions about rents - in places like London (highlighted as particular Covid-19 concern in yesterday's press conference), rent can be over 50 per cent of a person's income.
Will raise questions about rents - in places like London (highlighted as particular Covid-19 concern in yesterday's press conference), rent can be over 50 per cent of a person's income.
Chancellor says two biggest costs for business are rent and employees. Rent issues, he says, will be addressed by grants and tax cuts (£20bn new measure). Employee costs will be addressed in coming days, working with business and unions to come to arrangement.
Note: Chancellor has implied several times now that last week's Budget launched a £30bn stimulus to tackle Covid-19. Not exactly...£12bn was strictly virus-measures, £18bn was huge spending/borrowing on vast array of things Gov wanted to do regardless of Covid-19.
