“Support is welcome, but business needs clarity” – Liverpool BID boss reacts to Rishi Sunak’s new job support scheme

Bill Addy who chairs Liverpool BID Company has released a statement after Chancellor Rishi Sunak has announced a new job support scheme.

As part of a package of measures the Chancellor said the new jobs support scheme was aimed at protecting “viable” roles rather than all posts which have been kept going as a result of state support under the furlough programme.

Under the terms of the new scheme, the Government will top up the wages of people working at least a third of their normal hours.

Liverpool BID Company is responsible for looking after Liverpool City Centre and the businesses that trade within it.

Bill Addy, CEO of Liverpool BID Company & Chair The BID Foundation:

“We wait to see the fine print but the focus on enabling businesses to live and operate with Covid is vital. We cannot afford the economy to grind to a halt. The extension of the VAT reduction for hospitality and tourism until the end of March is much welcomed and allows these businesses, who have been some of the hardest hit over the past six months, to navigate the difficult six months we are facing.

“The Job Retention Scheme isn’t as generous as furlough and we’ll wait to see how far our Levy Payers who are struggling in the current climate, especially with new restrictions, feel this will help them operate. Clarity and simplicity will be key, especially for those small businesses working hard to keep going.

“We knew that, as far as government support goes, as the furlough scheme was ending it was never going to be business as the new normal.

“There’s some concern that encouraging interest free loans might encourage a level of debt we have seen in the consumer market, and we don’t want to saddle businesses with responsibilities that weigh around their necks for years to come.

“Deferrals and extensions are vital, but we are seeing an increased need for investment to target growth in areas that need it and helping us to plan for the future in a sustainable way.

“At Liverpool BID Company we understand that for businesses and their staff across the city this is a frightening and worrying time. We’ll be continuing to lobby at local, regional and national government level to ensure they get what they need, not to just survive the next six months but plan for the rest of 2021 and beyond.”

See what’s included in the new job support scheme here.