Ed Miliband MP, Labour’s Shadow Business Secretary, commenting on a survey from the Federation of Small Businesses which suggests at least 250,000 UK small businesses are set to fold without further help from government, said:
“The loss of a quarter of a million small businesses would be catastrophic, devastating for those people running the businesses and the workers and communities that rely on them.
“The message from businesses is clear: support is not remotely equal to the scale of the emergency. Many are excluded, grants do not properly cover the costs facing firms, businesses are staring at fast approaching cliff-edges in support and there is a massive issue of the debt burden they have accumulated.
“The Government’s approach throughout this crisis means the UK is already facing the worst crisis of any major economy. Rishi Sunak must start listening to the businesses fighting for survival and come up with a proper plan for the months ahead which matches the gravity of the crisis.”