Shot in arm for some firms, but others face fight
COMPANY chiefs were divided over the Chancellor’s rescue package last night.
Some welcomed it as a “shot in the arm”. But harder- hit sectors felt let down.
Phones4U founder John Caudwell called them “sensible measures that should help many businesses survive over the next six months” and added: “The wage subsidy scheme is in line with what I’ve advocated – enabling people to work while receiving support.”
Adam Marshall, director general of the British Chambers of Commerce, said replacing furlough with the jobs support scheme would keep workers in jobs. “The measures will give business and the economy an important shot in the arm,” he said. “Chambers of commerce have consistently called for a new generation of support to protect livelihoods and ease cash pressures faced by firms.”
But Mike Cherry, chairman of the Federation of Small Businesses, said Rishi Sunak had again forgotten those who had only recently set up their own enterprise, adding: “The Chancellor had nothing to say for those left out of the first round of support measures – not least the newly self- employed and company directors.”
Charlie Mullins, founder of Pimlico Plumbers, called the plan “complicated”, adding: “There will be some businesses saved. Some will struggle on before collapsing in seven months, rather than in November when the original furlough ends.” While David McDowall, chief operating officer of Brewdog, said the “hopes of our sector have been crushed”.