London,
22
October
2020
|
18:24
Europe/Amsterdam

City Corporation responds to Chancellor’s statement on business and worker support

The Chancellor of the Exchequer Rishi Sunak has announced that additional financial support will be provided to particularly affected businesses in local COVID alert level: high areas.

Responding to the statement, City of London Corporation Policy Chair Catherine McGuinness said:

“Today's announcement by the Chancellor will have been welcomed by countless bars, cafes and restaurants across the Square Mile.

“As always however, the devil will be in the detail, and we look forward to receiving further information on how the grants will work, and how many places in the City will be able to benefit.

“Previously a large number of very small businesses in the Square Mile were excluded from eligibility for grants because of the rateable value of their business premises, so I hope our concerns on this have been taken on board this time round.

“The virus is not going to go away quickly, and we urgently need to find a way to live with it. We must keep the economy operating to the maximum extent possible, not only for future prosperity but also to pay for the extensive support, like this, which so many of our sectors, businesses and communities currently need.”

ENDS

Notes to editors

About the City of London Corporation

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk