Responding to the Prime Minister’s announcement of further coronavirus-related restrictions, Roger Barker, Director of Policy at the Institute of Directors, said:
“The resurgence in the virus is aggravating the pain for businesses.
“For companies in sectors like tourism and hospitality, the vaccine-led recovery still seems a long way off. Even for organisations that can operate remotely, the closure of schools could cause significant staffing headaches.
“The Treasury must now bolster support for the worst affected sectors. In particular, it should seek to reinforce the discretionary grant scheme allocated through local authorities, which has helped to reach those who have fallen through the gaps.
“It will also be crucial to smooth the cliff-edge in support that’s fast approaching in the Spring. Many companies will have next to no chance to build up steam before the end of the first quarter, when support measures are set to wind down. Indications on future policy support and stimulus plans will be crucial for directors to factor into their plans now.”