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9th October 2020The Chancellor’s local furlough scheme – initial reactions from HW Fisher

Commenting on the announcements made by The Chancellor on furlough changes today, Russell Nathan, head of hospitality at accountancy firm HW Fisher said:

“It’s a serious time for British business. The extension to furlough measures are reassuring, especially for those in hospitality who are forced to shut their doors, but the Government are still missing the mark when it comes to a long term strategy. Christmas is less than 80 days away and is the biggest revenue driver of the year for those in hospitality and retail – the next 3 months is normally the quarter in where they make their profit for the year.

Hospitality is quick to be blamed for the virus spread but the evidence shows it is not the black spot. Measures such as the 10pm curfew are having a disproportionately negative effect on the industry relative to the benefits. The Government must now focus on building a clear roadmap to support businesses to scrap the 10pm curfew, extend insolvency protection, tackle the Landlord issue, and make a plan that will last beyond the next month. The Chancellor might not be able to save all businesses – but he can save more.”

 

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