Industries that represent retailers, pubs, and automakers are urging the government to help prevent business loss by extending tax breaks to businesses, providing grants, and ensuring that the current program of assistance will continue beyond April. EasyJet Plc and Next Plc signaled that the new lockdown is clouding their prospects.
Companies are calling for more support and relief after UK PM Boris Johnson put England back into total lockdown to halt the surge in Covid-19 infections [London].
Retail companies and hoteliers in Britain are likely to be hit the hardest, as all nonessential shops, restaurants, and bars will have to remain closed.
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Emma McClarkin says A wave of business failures is imminent unless the government provides a major package of financial aid to feed the pubs and breweries that they guarantee the supply, “. The last closure comes after an” abysmal silence “. The recent lockdown comes after an “abysmal silence” festive period.
The director of Make UK, Stephen Phipson said that The new measures, while vital to fighting the pandemic, will worsen an already difficult situation for the automotive and aviation industry.
UK clothing retailer Next said on Tuesday that recent holiday period gains will be almost completely eroded by the new lockdown. According to Helen Dickinson, In the retail industry, almost 178,000 jobs have already been lost and more could be left without additional support.
The group is calling on the government to extend commercial rate relief, a form of property tax, starting in April. The consequences of the restrictions announced Monday night could be “dire” for businesses that once most face losing in a week 2 billion pounds (US$ 2.7 billion) in sales, Dickinson said in an EM statement.
Also, the CEO of the LCCI Richard Burge said urgent help is required at a time when business confidence at its lowest point since 2008 (the financial crash).