Skip navigation

Gloucestershire Business News

CBI: Business survival hangs in the balance

As government support schemes for businesses wind down, the survival of many still hangs in the balance, according to the CBI.

The CBI is calling for more action from government to ensure firms survive.

Job retention schemes have been a lifeline for many businesses, but despite the gradual reopening of the economy, the business group has warned that recession is a certainty and unemployment is rising.

The CBI wants to see extensions of grant support schemes for smaller companies and business rates relief in England and the deadline for the Coronavirus Business Loan Scheme extended for a further three months beyond August.

CBI director-general Dame Carolyn Fairbairn said: "The government's support of business during the crisis has saved countless firms, but the rising number of redundancies and benefit claimants shows just how hugely damaging this pandemic has been for our economy.

"The survival of many businesses in hard-hit sectors still hangs in the balance over the summer as schemes begin to wind down. These firms cannot wait until the autumn for further action."

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Wednesday, August 12 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Wednesday, August 12

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Spirax-Sarco beats projected performance Image

Spirax-Sarco beats projected performance

Sales and profits fell less than expected for Spirax-Sarco Engineering in the first six months of the year - but it has warned of tough end to 2020.

Gloucestershire unemployed benefits more than double in last year Image

Gloucestershire unemployed benefits more than double in last year

The number of people claiming unemployment-related benefits across Gloucestershire has more than doubled in the last year.

MP questions Police and Crime Commissioner's no-bid decision Image

MP questions Police and Crime Commissioner's no-bid decision

Gloucester MP Richard Graham has repeated his call for details on why Police and Crime Commissioner Martin Surl did not bid for a share of a £25million government fund.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.