£330Bn lifeline for economy in face of COVID-19 threat welcomed by Cherilyn Mackrory MP

Cherilyn Mackrory, Member of Parliament for Truro and Falmouth, has welcomed the statement by the Chancellor Rishi Sunak this evening, that the Government is moving forward with £330bn lifeline for the economy in the face of the Coronavirus (COVID-19) pandemic.

This package will include support for companies to access loans, support for airlines, a business rates holiday, and help for small firms without insurance.

The chancellor said he was extending the business rates holiday to all firms in the hospitality sector and funding grants of between £10,000 and £25,000 for small businesses. And Mr Sunak said that for those in financial difficulty due to coronavirus, mortgage lenders will offer a three-month mortgage holiday.

Cherilyn said:

“I have been approached by business people from all sectors over the past week about the difficulties they are encountering, or anticipate encountering in the coming weeks and months.”

“We are clearly in unprecedented times and this calls for the strongest measures possible to protect our economy.”

“I am pleased to see this package announced – this will bring relief to some but there is much more to do. I pledge to do everything I can to ensure the voices of our business community are heard, and I know Ministerial colleagues in Government will be looking to continue to support and protect every facet of our economy during these troubling times.”