The Chancellor extended the support available once again there yesterday which further reinforces the fact that the battle against COVID-19 is still far from being over and based on his extended timescales it would be reasonable to expect at least some form of disruption into April/May and most likely for at least the first 6 months of next year though there are plenty of positives signs.
The three key announcements yesterday were:
- the extension of furlough payments to 30 April 2021
- businesses will now have until 31 March 2021 to access the Government-backed loan schemes
- the budget announcement will be on 3 March 2021 whereby further support packages are expected to be announced including there being mention of new loan schemes that will replace the current Government-backed loan schemes
For the full release and to read more please click here.