Tuesday 5 January 2021

Reacting to lockdown grant support being announced by government, London Chamber of Commerce and Industry welcome the support, but urge the Chancellor to look beyond Spring and extend business rate and VAT relief periods. LCCI's CEO warns that this is not yet the final sprint of the London marathon.

Richard Burge, Chief Executive of London Chamber of Commerce and Industry, said: “These grants will be welcomed by businesses who have been forced to close, and particularly those in London with a rateable value above £51,000 – who have previously not been able to access such grant support.

"But the Government need to demonstrate they understand that this remains a marathon, it’s not yet the final sprint. They must better support businesses to stop them falling before the finish line, and indeed once they’ve reached it.

"As such, we need to see the Chancellor is looking beyond Spring. Extension of the VAT and business rate relief periods would show government understand that our economy will not fully recover until vaccination rollout is complete and London’s tourism and global economy recovered – which will be beyond Spring realistically.”