LCCI react to Government coronavirus business support package

Sunday 22 March 2020

Richard Burge, Chief Executive of London Chamber of Commerce and Industry, said: “The Chancellor’s announcement is a major and extraordinary intervention. He has clearly taken on board the scale of the crisis, and the imminent need that businesses, their staff and the self-employed face. We applaud him.

“All business will now be working through the additional government guidance and recalculating their cash flows. Government needs to produce high quality information and guidance, and ensure they have enough staff in HMRC and elsewhere to respond quickly and immediately.

It’s also imperative that London and the UK’s banking community must now step-up to the plate. They must ensure, this weekend, that they will provide bridging finance to companies with immediate effect until the funds start to flow from the Treasury – which may take two or three weeks. In making this support available they should forgo profit. Now is the time for solidarity.”

ENDS.

For further comment or interview:

Steven Reilly-Hii
LCCI Senior Media Relations Manager
E: [email protected]
T: 0207 203 1897