Mr. Sunak should update the rules for financial support for people with coronavirus restrictions.
Chancellor of the Exchequer Rishi Sunak will make a statement this morning in the House of Commons.
The Chancellor of the Exchequer will update this morning the rules for financial assistance to persons with coronavirus restrictions.
Prime Minister Boris Johnson outlined last week a new three-tier system of local restrictions for England.
The Chancellor of the Exchequer will unveil a new plan to support companies that are experiencing a decline in their trade, such as pubs and restaurants, which will be subject to social restrictions for areas covered by the Tier 3 rules.
Currently, companies in Tier 2 areas such as London and Birmingham do not benefit from the same state aid as those in Tier 3 areas, including business grants and higher wage subsidies, as they can remain open.
Different parts of the country have been classified as “medium”, “high” or “very high” local coronavirus warning zones under the new system
Liverpool has been placed in the “very high” or “tier three” category, where pubs, bars, betting stores, casinos, adult gaming stores and gyms have been forced to close – although the gyms are due to reopen on Friday.
The Chancellor’s spokesperson told the PA news agency: “The Chancellor will keep the House of Commons informed, particularly about the economic situation and the new restrictions.
Mr. Sunak will make a statement to the House of Commons at 11:30 this morning. The “Telegraph” reported that it will unveil financial measures to support Tier 2 companies after industry leaders and MPs complained that thousands of jobs were at risk before Christmas.
“And, what we’ve always said is that our support package is always flexible and always up for review to ensure it is appropriate to the evolving situation.
In stage three, social mixing is banned both indoors and in private gardens, while pubs and bars will have to close unless they can be run as restaurants.
Stage two companies can only benefit from a scheme under which employers must pay around 55 % of employees’ wages with a lower government subsidy, while indoor household mixing is still prohibited.
For companies in this sector that cannot operate legally due to Covid-19 restrictions, the government pays 66 % of workers’ wages, with the employer continuing to pay pension and social security contributions.
Mr. Sunak will make a statement from the Houses of Parliament at 11:30am….