Responding to the Chancellor’s announcement of further support for businesses, Jonathan Geldart, Director General of the Institute of Directors, said:
"The new and improved Jobs Support Scheme is to be welcomed, and should go some way to easing company directors’ fears. A substantial reduction in the employer contribution is a crucial step, reflecting our members’ concerns. Taking a national approach will help to cut through the confusion of different tiering systems and backroom political negotiations. Directors need clarity on what support will be available so they can chart a way forward for their organisations.
“More help for the self-employed is another positive, but there continues to be a glaring gap. The exclusion of small company directors, a major part of the dynamic entrepreneurial heart of our economy, from key support schemes becomes all the more pressing as the virus wears on. It’s deeply frustrating that this issue still hasn’t been addressed.
“Improved support for sectors on the front line provides a welcome boost. With the impact of restrictions reverberating across the supply chain, increasing local funding for discretionary grants should also help support a wider swathe of businesses.
“The Chancellor’s willingness to fine-tune support in light of the developing circumstances will continue to be absolutely vital in the months ahead.”