IoD press release Support package welcome relief for hard hit businesses
Responding to the Government’s announcement of additional support for businesses that have been impacted by the Omicron variant, Dr Roger Barker, Director of Policy at the Institute of Directors, said:
“The Government has responded to industry representations and this targeted support package will be welcome relief to many businesses. The Omicron variant has led to a drop in consumer demand at the worst possible time for some parts of the economy, particularly the hospitality sector. These measures will go some way to protect and compensate those most adversely affected.
“However, with the unwinding of a number of remaining support schemes at the end of Q1 2022, such as the VAT reduction for hospitality and business rates support, businesses also need the reassurance that these measures will now last for longer into 2022.”