Sadiq urges govt to extend support for businesses

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Mayor Khan, said, it was deeply disappointing that the Prime Minister this week announced an extension of COVID restrictions without a single mention of extending the vital financial support that our businesses need..reports Asian Lite News.

On a visit to businesses on London’s Piccadilly the Mayor of London, Sadiq Khan has warned of the ‘calamitous’ impact of ministers continuing with the plans to reduce financial support for businesses at the end of June despite the continuation of COVID restrictions announced this week. 

Mayor Khan, said, it was deeply disappointing that the Prime Minister this week announced an extension of COVID restrictions without a single mention of extending the vital financial support that our businesses need.

“With so many venues in retail, culture and hospitality already on a financial knife edge the reduction in financial support at the end of this month could now be a calamitous blow to their chances of survival,” he said.

“Our world-class theatres, cultural venues, bars, shops and restaurants desperately want to welcome back Londoners and tourists safely from across the UK. And we continue to showcase what all our amazing venues have to offer through our #LetsDoLondon campaign.”

 But he said “until restrictions are fully lifted, whacking our venues with a large business rates bill and other costs from next month will simply hamper the capital’s chances of recovery.”

He said that Central London remains the engine of the UK’s economy.  “But there simply won’t be a national economic recovery from COVID if ministers take the survival of London’s unique eco-system of shops, hospitality and world-leading cultural venues for granted,” he added.

According to UK Hospitality, the further delay in the roadmap will cost the hospitality sector £3bn in lost sales across the UK, and put 300,000 jobs in the sector at risk. Strikingly their latest figures show that around a quarter of hospitality venues still remain shut.* Nearly one in five of the UK’s hospitality jobs are based in London – over 10 per cent of London’s employment. In the capital hospitality venues has already seen an average decline in sales of £1.3m since the start of 2020.

Mayor has visited a number of businesses around London’s Piccadilly. Alongside Kate Nicholls (Chief Executive of UK Hospitality), and Ros Morgan (Chief Executive at Heart of London Business Alliance) he is urging the Government to continue with its full package of financial support for businesses beyond the end of June – until the final lifting of restrictions.

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