London Chamber of Commerce and Industry supports letter from the British Chambers of Commerce which calls on the Chancellor to urgently consider targeted business support following this week’s Plan B announcement.
Richard Burge, CEO of LCCI, said:
“The announcement of Plan B restrictions earlier this week has come at an incredibly difficult time for businesses. After a tough 18 months, the reintroduction of restrictions will adversely affect businesses during what should be the peak trading time of the year. This is why we support the British Chambers’ call for the Chancellor to announce new business support measures including reverting the VAT for hospitality and tourism back to the 5% emergency rate.
“The festive period should be joyous for the retail and hospitality sectors, which are vital to London’s economy, but these new restrictions – including the working from home guidance – will significantly dampen trade in the run up to Christmas. We cannot afford to let businesses in London suffer and see the City lose hard-won ground in the economic recovery. London’s position as a thriving global city is again at risk unless these restrictions are balanced by further support from the Treasury.
“If the Government truly cares about business, the Chancellor must consider the reintroduction of targeted support for the private sector. London is a resilient city but it can’t weather another festive period of restrictions without support.”
Find the letter from the British Chambers of Commerce here: https://www.britishchambers.org.uk/news/2021/12/bcc-warns-chancellor-business-support-urgently-needed