Covid: Rishi Sunak announces £1bn fund for businesses

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The announcement comes as pubs and restaurants struggle with reduced footfall and cancellations amid Covid fears.

meaning a limit on the number of people allowed to attend large events and Edinburgh's Hogmanay street party being cancelled.

But he added that he thought the new measures announced were comparable to the grants that were on offer when businesses were fully closed earlier this year. However, Labour's shadow Treasury minister Pat McFadden described Mr Sunak's announcement as "a holding package from a government caught in a holding position".

Perhaps most crushing of all for business confidence is the ongoing uncertainty, and with Covid-19 that is something over which the chancellor has little control.Shevaun Haviland, director general of the British Chambers of Commerce, said the new support would provide "welcome respite" to many firms affected by Covid measures, but warned that more could be needed if restrictions persist or are tightened.

He described the chancellor's support package as "far too little" and said it bordered "on the insulting" in the face of failing businesses, lost livelihoods, and a "crippled" industry. He told BBC Radio 4's World at One there had been a drop in orders from restaurants in the last week as people cancelled bookings and that he would have to make "contingency plans" to preserve and freeze the fish until it could be sold in the new year.the surge of the Omicron variant:

 

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