Liberal Democrat Treasury spokesperson Christine Jardine MP has described the Government’s reported plan only to provide businesses with £5 billion in grants to get through the economic crisis, as an “insult”.
She said: “At a time when millions of small businesses are struggling to survive, to offer them just £5 billion would be an insult.
“From beauticians to builders, florists to café owners – the small businesses in our communities are on the brink and the Chancellor must do more.
“It is now or never to save a million businesses in our local communities and the Government must put their recovery first.
“We need to see a budget with a bold and ambitious compensation package for those who are facing crippling losses, and coping with hardship through no fault of their own.
“And we must see those who have been left out in the cold, with no financial help, brought under the umbrella of Government support.
“The Liberal Democrats have set out how the Government can do this, but it will require considerable amounts more in support, to provide what our local businesses and the people who depend on them deserve.”
According to a report by the Centre for Economic Performance (CEP) from January 2021, one in seven small firms – a massive 906,000 businesses – could go bankrupt by April unless they receive additional support. This would leave 2.5 million people without a job. @CEP_LSE.