Government coronavirus schemes 'failing to provide support', BCC finds

The coronavirus (COVID-19) schemes announced in Chancellor Rishi Sunak's Summer Economic Update are failing to provide the support businesses need, according to the Coronavirus Business Tracker published by the British Chambers of Commerce (BCC).

11 Aug 2020

The coronavirus (COVID-19) schemes announced in Chancellor Rishi Sunak's Summer Economic Update are failing to provide the support businesses need, according to the Coronavirus Business Tracker published by the British Chambers of Commerce (BCC).

According to July's survey, although 43% of firms intend to use the Job Retention Bonus, other support schemes have low take up.

Over half of businesses said they did not intend to use the Kickstart Scheme. A further 31% said they had not heard of the scheme.

In addition, 62% of firms said they did not intend to use grants for employers who take on trainees, and 65% of firms said they did not intend to access grants for those who hire apprentices.

Almost a third of firms expect to decrease the size of their workforce in the next three months, while 55% reported a slight or significant decrease in their cashflow.

Commenting on the findings, Claire Walker, Co-Executive Director at the BCC, said: 'Expected usage of schemes announced in the Summer Statement is relatively low, indicating they do not provide the right kind of support for many businesses at this critical time and a rethink is needed.

'With confidence and demand not returning at the scale firms need, the government must take radical steps to slash the tax burden around employment to help companies pay valued staff.'

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2020 Blue Spire Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com


Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK