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Government support is crucial to help businesses recover

Thursday August 11th, 2011

The Leicestershire Chambers of Commerce has responded to the Prime Minister’s announcement of support to businesses in riot-hit areas.

Martin Traynor, Chief Executive of the Chamber , said: “The Prime Minister has shown that the government is determined to both get a grip of the situation and also help with the real problems that face businesses hit by these criminal acts. Many of the worst-affected businesses will struggle to cover business rates, calculate VAT, and file company accounts as they work to get back on their feet. The government’s announcement of a High Street Support Scheme is a sign of real help at a difficult time, as is the announcement that businesses can seek compensation under the Riot Damages Act with an extension to 42 days for submitting claims.

“Chambers of Commerce will be working with local authorities, banks, insurers, HMRC and others to ensure that affected companies get the maximum support available. We will also be watching to ensure that rebuilding businesses are not hit with unreasonable payment demands as they re-establish their trade over the coming weeks and months.”

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