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The Government recognises the extreme disruption the necessary actions to combat Covid-19 are having on businesses and sectors like aviation, travel and tourism.
The Treasury’s priority is to support the economy through the immediate crisis. That is why the Chancellor has already announced unprecedented support for individuals and businesses, to keep as many people as possible in their existing jobs, support viable businesses to stay afloat and protect the incomes of the most vulnerable in this current economic emergency. This includes changes to our welfare system with Universal Credit and Statutory Sick Pay; grant schemes such as the Discretionary Grant Fund; a range of government-backed and guaranteed loan schemes; the Coronavirus Job Retention Scheme, and the Self-Employment Income Support Scheme.
These measures aim to protect the productive capacity of our economy and to enable a strong and sustainable recovery from this crisis. The government has since set out a cautious roadmap for how it intends to gradually reopen our economy, whilst continuing to suppress the outbreak.
As we look forward, we will continue to monitor the impact of government support with regard to supporting public services, businesses, individuals, and sectors, and consider how best to support the economic recovery.