Thousands of firms share £2.8bn in loans
MORE THAN 76,000 Yorkshire businesses have been given a lifeline to survive the pandemic by sharing more than £2.8bn in government-supported loans, it has emerged.
Figures released by the Treasury illustrate the scale of the damage caused to the region’s economy by coronavirus and the lockdown restrictions imposed since March. Some 73,000 loans worth £2.1bn have been offered under the Bounce Bank Loans Scheme, while more than 3,400 loans and support worth over £740 million have been offered under the Coronavirus Business Interruption Loan Scheme.
Separately, 102,000 businesses in Yorkshire have shared £1.1bn in government grants and 29 per cent of the workforce has been paid by the furlough scheme.
According to the Government, the retail, construction and hospitality sectors, including hotels and restaurants, have benefitted the most from the emergency measures.
It came as the Bank of England said it expects the downturn in the UK economy to be less severe than first feared, but could take longer to recover than previously predicted. It also said that the UK economy shrank by more than 20 per cent in the first half of the year after being hammered by the coronavirus pandemic.
The bank improved its “indicative projection” for growth in the economy, forecasting that GDP will shrink by 9.5 per cent this year, following Government action to protect the economy.
Chancellor Rishi Sunak, an MP in Richmond, North Yorkshire, said: “We said we would do whatever it takes to protect jobs and businesses from the economic emergency brought on by coronavirus – and that is exactly what we did.”
THOUSANDS OF NHS workers are expected to take to the streets this weekend demanding a pay rise.
Unite, which has 100,000 members in the health service, said it is supporting those wishing to attend the socially-distanced protests so that the Government can see the depth of discontent and frustration among NHS staff. A demonstration is organised in London tomorrow, while protests will also take place across the UK.
Health workers are in the final year of a three-year deal and are due a pay rise next April, but unions want the Government to bring it forward to this year.
The Government did not commit to an early pay rise for all NHS staff in recent weeks when wage increases for 900,000 public sector workers were announced.
Unite national officer for health, Jackie Williams, said: “Nursing staff and other allied health professionals have reacted with anger to being overlooked when pay rises were given to many in the public sector last month and the Government not hearing the health trade unions’ call to bring their pay rise forward from April 2021.
“Last week, health workers marched to Downing Street to vent their anger that all their efforts during the pandemic, which has claimed so many of their colleagues’ lives, have appeared to be ignored when it comes to recognition in their pay packets.
“In a decade of Tory austerity, NHS staff have seen their pay cut by 20 per cent in real terms – and no amount of Thursday evening clapping and warm ministerial words can compensate for this dramatic loss in income.”
A Department of Health and Social Care spokesperson previously said: “We are committed to supporting the entire NHS and social care workforce.
“The Agenda for Change deal has delivered year-on-year pay increases for our valued NHS staff, including increasing the starting salary for a newly qualified nurse by over 12 per cent and the lowest starting salary within the NHS by over 16 per cent.
“We are incredibly grateful for all their hard work and dedication during the pandemic and we will continue to ensure all staff are rewarded fairly.”