PM urged to increase business support to prevent ‘economic catastrophe'

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Company owners have warned current economic support packages will not be enough to prevent mass redundancies.

‘Chambers are clear that any new restrictions must go hand in hand with truly commensurate financial support for wages and day-to-day running costs,’ it said.The chambers set five tests to prevent economic disaster, including restrictions being evidence-based, and ensuring firms have time to prepare and have adequate compensation.

‘Over the critical weeks ahead, these tests must be met – to avoid serious damage to business and consumer confidence, and potentially catastrophic economic consequences,’ it added.A street in Ormskirk, Lancashire

 

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