Responding to the expected announcement by Government that lockdown easing in England is to be delayed, Dr Roger Barker, the IoD’s Director of Policy, said:
“Clearly this is a blow for many businesses, particularly those in the retail and hospitality sectors.
“We are now approaching a cliff edge, with government support for business ending or beginning to taper off. It is vital that this support is pushed out commensurately with the lockdown extension. Economic support and public health measures must be aligned.”
At the end of June, businesses will face a number of new significant costs:
- On 23 June, quarterly rent is due
- On 30 June, the ban on commercial rent evictions ends
- On 1 July, employers must start contributing 10% towards furlough costs
- On 1 July, 100% business rates relief tapers off to 67% business rates relief