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BRC welcomes Rishi Sunak's Job Support Scheme
28 Sep '20
2 min read
Pic: Shutterstock
Responding to the recent speech by the UK chancellor of the exchequer Rishi Sunak, the British Retail Consortium has welcomed his Job Support Scheme, saying it will help reduce job losses for eligible companies. BRC looks forward to seeing the details of the additional flexibilities on loans and tax deferrals that have been announced, it said in a statement.
“The VAT [value-added tax] reduction for cafes and food-to-go will be welcomed as many continue to suffer as a result of low footfall and the government’s ‘work from home if possible’ guidance,” BRC director of business and regulation Tom Ironside said.
“Retail is on a delicate path to recovery, but the looming threat to this remains the £8 billion business rates cliff-edge from April 2021. Retailers need certainty and the Chancellor must take action and bring down the business rates burden in order to avoid unnecessary job losses and shop closures,” he added.
Sunak recently outlined additional government support to provide certainty to businesses and workers affected by the pandemic. He announced a package of measures in parliament that will continue to protect jobs and help businesses through the uncertain months ahead as the country continues its fight against the virus.
The package includes the new Job Support Scheme to protect millions of returning workers, extending the Self Employment Income Support Scheme and 15 per cent VAT cut for the hospitality and tourism sectors, and help for businesses in repaying government-backed loans.
“The VAT [value-added tax] reduction for cafes and food-to-go will be welcomed as many continue to suffer as a result of low footfall and the government’s ‘work from home if possible’ guidance,” BRC director of business and regulation Tom Ironside said.
“Retail is on a delicate path to recovery, but the looming threat to this remains the £8 billion business rates cliff-edge from April 2021. Retailers need certainty and the Chancellor must take action and bring down the business rates burden in order to avoid unnecessary job losses and shop closures,” he added.
Sunak recently outlined additional government support to provide certainty to businesses and workers affected by the pandemic. He announced a package of measures in parliament that will continue to protect jobs and help businesses through the uncertain months ahead as the country continues its fight against the virus.
The package includes the new Job Support Scheme to protect millions of returning workers, extending the Self Employment Income Support Scheme and 15 per cent VAT cut for the hospitality and tourism sectors, and help for businesses in repaying government-backed loans.
Fibre2Fashion News Desk (DS)
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