Jan 19, 2021

CBI calls for more business support before Budget

The government needs to give more financial help to struggling firms ahead of the Budget in March, the CBI business lobby group has said. The furlough scheme and business rates relief should be extended, the CBI said in its Budget submission to the chancellor. The CBI, which represents 190,000 UK firms, also called on the Treasury to extend the business rates holiday for at least another three months for UK firms forced to close under current lockdown restrictions. "Our Covid-related business support asks are about moving now or soon, rather than waiting until March 3... business support needs to go in parallel with the tiering of restrictions," said Tony Danker, the director-general of the CBI. "Sudden stops and cliff edges really don't help and I don't think anybody in government believes that we're going to have a sudden opening up with the economy." The trade body said business rates would become a particularly serious problem if not addressed soon.

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