key update from John Bridge OBE DL

Do not miss this essential key update on the Furlough Scheme, Self Employed and Grants information

Join our Championing Business event tomorrow at 4.00pm to obtain all the up to date information regarding the various government announcements.

We are very pleased that joining us at the event will be Julie Wilkinson from Wilkinson Accounting Solutions along with key local authority personnel including:

  • Adele Gritten , Business and Economic Development Lead at South Cambridgeshire District Council
  • Fiona Bryant , Strategic Director at Cambridge City Council
  • Tom Hennessy , Chief Executive at Opportunity Peterborough
They will provide the latest guidance on how to access all the available financial benefits.

The event will cover the recent Government announcements on:

  • Extending the Coronavirus Job Retention Scheme further, until the end of March
  • Not paying the Job Retention Bonus in February but instead redeploying a retention incentive at the right time
  • Increasing the third self-employed grant, covering November to January, from 55% to 80% of trading profits
  • Cash grants of up to £3,000 per month for businesses which are closed in England
  • £1.1 billion for councils in England to further support businesses more broadly over the coming months
  • Extension of existing loan schemes to the end of January and an ability to top-up Bounce Back Loans
  • An extension to the mortgage payment holiday for homeowners
  • Providing councils in England with up to £500 million of funding to support the local healthcare response
  • Over £200 billion on VAT relief, business rate relief, loans, tax deferrals, and support for individuals.
As previously advised the government financial support update is summarised here.

Come along with your thoughts; we want to hear your views. Register here.

ONS labour market statistics for November 2020

The rise in the unemployment rate and redundancies is further evidence that the damage being done to the UK jobs market by the Coronavirus pandemic is intensifying.

While there was a rise in the number of job vacancies, this is more likely to reflect a temporary bounce as the economy reopened before recent restrictions were reintroduced, rather than a meaningful upturn in demand for labour.

The extension to the furlough scheme will safeguard a significant number of jobs in the near term. However, with firms facing another wave of severely diminished cashflow and revenue and with gaps in government support persisting, further substantial rises in unemployment remain likely in the coming months.

Increased grant support for businesses impacted by restrictions is urgently needed to help businesses protect jobs, particularly given the delay to the job retention bonus. Closing the remaining gaps in government support, including for some self-employed and company directors must also be a key priority.

The main points of the Labour market overview for the UK can be found here .

Information on the Labour market in the regions of the UK is here

National Police Chiefs’ Council (NPCC) Business Restrictions Pack

A business restrictions pack covering the Health Protection (Coronavirus, Restrictions) (England) (No 4) Regulations 2020, and specifically the part of the Regulations relating to restrictions and closure of businesses, has been issued by the College of Policing and the NPCC.

You may find this of interest and can be accessed here.

Contact the Chamber

01223 237414 •  enquiries@cambscci.co.uk
Cambridgeshire Chamber of Commerce

Clifford House • 2 Station Yard • Oakington • CB24 3AH • United Kingdom