Delivering his Winter Economy Plan in Parliament, the Chancellor of the Exchequer, Rt. Hon Rishi Sunak MP, announced a package of measures that will continue to protect jobs and help businesses through the uncertain months ahead as we continue to tackle the spread of the virus.
The Chancellor outlined the Government's continued commitment to businesses who have been affected by the coronavirus outbreak, and the need to provide targeted financial assistance for viable jobs in forward-facing industries.
The package includes a new Jobs Support Scheme to protect millions of returning workers, extending the Self Employment Income Support Scheme and 15% VAT cut for the hospitality and tourism sectors, and help for businesses in repaying government-backed loans.
Following his announcement, Lucy thanked the Chancellor for his statement and raised the need for specific support for businesses in the events industry, who have suffered significant financial losses as a result of lockdown restrictions.
Lucy Allan MP said:
"The Chancellor has shown himself to be nimble and agile throughout this crisis and I congratulate him on this statement, and his recognition that we must adapt and evolve and can no longer put our lives on hold.
I particularly welcome the measures to support hospitality and the 5% VAT rate extension.
Telford has a fantastic International Centre for businesses and conferences and brings in 300,000 people every year. Their turnover now is zero.
Will my Rt. Hon Friend please continue to do all he can to support the events industry that is so important to my town?"
Chancellor of the Exchequer, Rt. Hon Rishi Sunak said:
"I thank my Hon. Friend for her comment and she is right: the Government must respond with agility as the virus and our economy evolves in the coming weeks and months, and we will continue to do that.
I very much sympathise with her and those in the events industry for the difficulties that they are experiencing, and I know that there are conversations ongoing with the Business Secretary about what best can be done to ensure, at some point in the future, we can return to what we all want, which is a thriving industry that her constituency wants to see back.