Rishi Sunak today unveiled yet another bailout with billions of pounds for stricken bars and restaurants under Tier Two lockdown and the self-employed. In a dramatic Commons statement, the Chancellor boosted support for sectors like hospitality after a wave of anger at ‘loopholes’ in his existing provision. While businesses forced to close in the harshest Tier Three areas can access significant funding, there has been less available for ‘high risk’ Tier Two regions such as London and Essex – even though the ban on households mixing indoors means that many are getting hammered. Tory MPs have been increasingly alarmed at the gap, amid warnings that the crisis is set to drag on well into next year. Shocking official figures today show that 17 per cent of firms in the accommodation and food services industry are at ‘severe’ risk of becoming insolvent. Mr Sunak held a breakfast briefing with business leaders to outline the changes, before confirming them in the House. However, the tightrope the Chancellor is walking was starkly illustrated yesterday when it emerged the government has borrowed more than a billion pounds every day during the pandemic. While businesses forced to close in the harshest Tier Three areas can access significant… Read full this story
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Rishi turns on the spending taps AGAIN: Chancellor unveils BILLIONS more for stricken bars and restaurants in Tier Two lockdown and the self-employed after fury at 'loopholes' leaving them high and dry have 261 words, post on www.dailymail.co.uk at October 22, 2020. This is cached page on Movie Breaking News. If you want remove this page, please contact us.