Please Note: All information correct at time of writing on 19 March 2020. We do our very best to make sure our information is as up to date as possible, but we’d encourage you to check out our latest articles and to check the government website for updates as they happen.
Getting his fourth nightly briefing of the week underway today (19 March), PM Boris Johnson announced there would be a statement by the Chancellor tomorrow as to how the government would be supporting businesses with their employee costs.
Presumably, this is the employment support package we heard about earlier this week when Chancellor Rishi Sunak joined him to announce his economic stimulus package. The message to business this evening from the government was clear – stand by your employees, do not cut jobs – wait to see how the government will be making support available.
The key issues for businesses discussed today were:
As is customary now, the briefing ended with a Q&A session from the attendant press. This covered a lot of ground – everything from pub closures to when people will be able to plan for their summer holidays. The most pertinent issues discussed during the Q&A were:
Once again, businesses are left waiting for the exact details on how they will be able to access the financial support promised to them by the Chancellor earlier this week. And so it follows that the big talking points for tomorrow are set to be what shape financial support for businesses will take, further confirmation on which vulnerable groups will be subject to the rumoured 12-week self-isolation and a more robust definition on who falls into the ‘key workers’ category.
As always, we’re keeping our eyes on the government updates as they happen and helping translate them into real, actionable insights for your business.
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