The Chancellor, Rishi Sunak, has outlined the Winter Economic Plan to support businesses through the ongoing Coronavirus pandemic. The update sees an evolution to the existing schemes and is designed to support jobs and businesses whilst restrictions remain in place for at least the next 6 months.
The update covered:
- The New Job Support Scheme
- Bounce Back Loans
- Coronavirus Business Interruption Loans
- VAT & Personal Tax Deferral Payment Scheme
- Temporary VAT Reduction
We’ve summarised our take on the update in a bulletin for you to digest.
We are currently awaiting details on how the Job Support Scheme will work in practice and will share a further bulletin once we know more. We’ll also outline how we can support businesses.