LCCI responds to the Chancellor’s announcement of greater business support measures

Tuesday 21 December 2021

Richard Burge, Chief Executive of the London Chamber of Commerce and Industry (LCCI), said:

“We welcome The Chancellor’s announcement of greater business support measures today. The effect of lockdown in all but name has been crippling for businesses, particularly those in the hospitality sector who have faced disruption during what is their most profitable period of the year. The announcement of £1 billion of small business grants for the hospitality and leisure industries will go some way to relieving immediate financial pressures.

"However, we were disappointed not to see greater business rates relief reinstated. This would have a restorative effect on businesses’ ability to recover from a period of unparalleled uncertainty and a crash in their expected holiday trading. We urge the government once again to reconsider its position and to reinstate 100% business rates relief for retail and hospitality. It is imperative that the Government keeps the situation under review and that it is ready to step in with targeted support where necessary. Other sectors, such as aviation, have been badly hampered by the Omicron wave and must not be forgotten in terms of Government support.”

ENDS