IoD welcomes furlough and loan scheme extensions

Responding to the Treasury’s announcement that the furlough scheme will be extended to the end of April 2021, and that the government’s coronavirus loan schemes will be extended to the end of March, Roger Barker, Director of Policy at the IoD, said:

“As restrictions look set to continue, extending this support is a sensible step from the Treasury.

“The curtailing of Christmas trade puts many firms in a really difficult position, and the government should also be looking to bolster grants for the worst affected companies. With many support schemes now set to end in the Spring, the Chancellor should also be wary of another potential cliff-edge, as it’s still far from certain when demand will rebound.

“While extending furlough is the right move, the Government still hasn’t dealt with the gaps in its support. It’s past time for these issues to be tackled head on, many small company directors and others have gone without, throughout the crisis.”