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New support measures should help ease pressures, says Small Business Federation president

The president of the Federation of Small Businesses (FSB) issued a statement following the government’s announcement.

Mike Cherry, National Chairman, said: “These positive steps will help ease the intense pressures that small businesses are currently under and hopefully halt a significant decline in confidence over the course of this year.

“With the prospect of one million sick or self-isolating people by January, we have encouraged the Chancellor to reinstate the statutory reimbursement of COVID sick pay – we are delighted to see our recommendation implemented today.

“This decision will reduce stress for small employers across the country, helping those who are struggling the most with depleted cash flow.

“It is vital that small businesses – once again facing a massively disrupted holiday season – can recoup support staff costs.

“The government has also rightly pushed forward other aspects of our ten point plan, with support in the form of grants worth £1billion for the hardest hit sectors in England, alongside the accelerated delivery of the £1.5 billion corporate rate relief fund for supply chains launched months ago.

“HMRC’s encouragement to give small businesses as much breathing space as possible as we head into tax filing season will also be a relief to many.

“We have always said that support must go hand in hand with restrictions, and this intervention will help reassure small businesses that this is the approach the government will take.”

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