Rishi Sunak
Coverage focuses on government policy, fiscal decisions, and public statements affecting the UK hospitality and foodservice sector, as shaped by the former Chancellor and Prime Minister. From Budget announcements and VAT policy to business rates, inflation, staffing, and energy support, reporting examines how leadership decisions impact restaurant groups, pub operators, caterers, and hospitality businesses across the country.
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May- 2020 -4 MayCoronavirus
Government launches new Bounce Back loans
Thousands of small firms and sole traders will be eligible for 100% government-backed Bounce Back Loans to help them make it through the coronavirus outbreak. From today (4 May), small business owners can apply to accredited lenders by filling out a simple online form, with only seven questions. The government…
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Apr- 2020 -29 AprilPubs and Bars
Despite ‘Bounce Back Loans’ there are still huge gaps in support for pubs, says BBPA
The British Beer and Pub Association (BBPA) has said that chancellor Rishi Sunak’s ‘Bounce Back Loans’ programme announced earlier this week should help pubs currently struggling to access loans through the CIBIL scheme, many still have no direct grant support from the government. The ‘Bounce Back Loans’ will be for…
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27 AprilCoronavirus
Chancellor announces 100% guarantee on small business loans
Chancellor Rishi Sunak has announced the launch of a new ‘bounce back’ emergency loan scheme for small businesses, which will offer 100% guarantees on emergency loans. Today (27 April) Sunak told the House of Commons that the scheme would begin next week, offering SMEs loans of up to £50,000. The…
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24 AprilCoronavirus
Chancellor considering 100% guarantee on small business loans
Chancellor Rishi Sunak is reportedly considering offering a 100% guarantee on loans to small businesses of up to £25,000. According to the Financial Times, Sunak is set to up the guarantee, which currently sits at 80%, in a bid to make it easier for banks to supply the loans and…
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22 AprilBusiness Bites
Will there be coronavirus help for small company directors who are paid by dividend?
The financial plight of limited company directors has been raised by the Tory chairman of the Treasury select committee. Mel Stride, a former Treasury minister, said chancellor Rishi Sunak needs to view company directors as a tranche of people who have ‘slipped through the net’ of all the other largesse…
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20 AprilCoronavirus
Coronavirus Job Retention Scheme portal goes live
The portal for the Coronavirus Job Retention Scheme is now live, with the government saying that businesses with validated claims will receive payments within at least six days. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee, subject to…
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17 AprilCoronavirus
Chancellor extends coronavirus loan scheme to bigger firms
The Coronavirus Large Business Interruption Loan Scheme has been extended to include businesses with turnover greater than £500m. The £330bn package now allows all firms with a turnover of greater than £45m to apply for loans of up to £25m. Initially, businesses with a turnover of more than £500m were…
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16 AprilCoronavirus
Chancellor extends furlough scheme deadline
Chancellor Rishi Sunak has extended the deadline for the Coronavirus Job Retention Scheme after it was found that many people who had recently changed jobs were set to miss out. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee,…
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14 AprilCoronavirus
Petition for Tronc payments to be included in furlough wages hits 6,000 signatures
A petition launched on change.org calling for the government furlough scheme to include tronc payments for hospitality staff has hit over 6,000 signatures. Currently, under the Job Retention Scheme, tronc payments such as tips and gratuities are not not included in the amount paid to furloughed workers. The petition, created…
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8 AprilBusiness
Average UK SME does not have enough cash to cover debts due in 2021, says UHY
The average UK SME does not have enough cash to cover debts due in the next year, according to new research from accountancy firm UHY Hacker Young. The firm’s analysis of the balance sheets of more than 13,500 SMEs in the UK showed that the average SME now has only…
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