Business group warns First Minister not to underestimate the economic damage of lockdown
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Any extension of lockdown must be matched by by an increase in support to help Scottish jobs and businesses survive.
That was the message of CBI (Confederation of British Industry) Scotland director Tracy Black to First Minister Nicola Sturgeon following the announcement that current restrictions will remain in place until at least mid-February.
Ms Black commented: “News that the Scotland-wide lockdown will be extended is understandable given the worryingly high prevalence of the virus. While this comes as little surprise to business, the economic damage cannot be underestimated.
“The Scottish Government must now redouble efforts to get business support to the firms that need it as quickly as possible. Similarly, the UK Government must look at extending the successful Job Retention Scheme to the end of June to protect jobs and livelihoods at risk. And both governments must work together on fuelling the much-needed economic recovery.”
The CBI, which represents 190,000 businesses of all sizes and sectors across the UK, has issued a list of Budget priorities for the Chancellor of the Exchequer to consider.
These include extending the Job Retention Scheme beyond April to the end of June and a commitment to targeted support thereafter to give firms the certainty they need to protect jobs.
Lengthening repayment periods for existing VAT deferrals until June 2021 at the earliest and extending the business rates holiday for at least another three months to those UK firms forced to close under current restrictions and expanding relief to their supply chains.
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