Responding to the Government’s announcement of further support for the economy in response to Covid-19, Jonathan Geldart, Director General of the Institute of Directors, said:
“The Chancellor’s promise to do whatever it takes is the message business leaders needed to hear.
“It’s now vital to make sure businesses are able to take up the pledges that have been made before too much damage is done. Many have so far felt reluctant to take on loans with the road ahead uncertain.
“No matter the sheer size of today’s measures, the fight won’t be over. As the Chancellor said, this is only the latest step, and Government must continue to listen to business leaders and be ready at hand to deliver further measures where needed. Support for employment and the self-employed will be essential as the economy experiences this historic disruption.
“Going forward, it’s crucial that the Government’s economic policy ties up with its wider response to the pandemic. Directors are hanging on every announcement to see how it affects their business and their people. Support for businesses must match up to what is being asked of them, or firms could go under. Business groups like the IoD will play their part and get the message out.”