You will be aware of the unprecedented support that the Chancellor announced in the last few days to ensure that jobs are maintained during this crisis and that we do not end up with an unnecessary problem with unemployment in the aftermath of this period. This has been widely welcomed by the business community and by trade unions although those who are self-employed have, in large numbers, expressed their fears and anxieties about where the situation currently leaves them. A number of MPs, myself included, will be raising this issue with the Chancellor in the coming days to see what further help might be given to those who are often most at risk from sudden changes in the economic environment.
Businesses have also raised concerns around the lending criteria of the banks, even when the government are guaranteeing 80% of loans. This can mean that even if the government scheme is in place, the money may not flow to the banks themselves. I have taken this up with the Treasury today so that they can be aware of some of the issues that real businesses are facing.
Further information can be found at the government website https://www.gov.uk/coronavirus which will be constantly updated following the daily press conferences by ministers and new information that may become available.
