LUDLOW MP and former Health Minister, Philip Dunne, is urging people to take seriously government advice, and businesses to access new support made available by the Chancellor in the face of the coronavirus spread.

Businesses who need cash to pay salaries, rent, suppliers or buy stock will be able to access government-backed loans or guarantees.

There is also further help for businesses in our communities, so every shop, pub, restaurant, and business in the retail, hospitality and leisure sectors, of whatever size, will pay no business rates for 12 months, and for those which are small businesses (rateable value under £51,000) there will be a cash grant up to £25,000.

In the Budget, the government also announced it would be providing £3,000 grants to the 700,000 of our smallest businesses in any sector who receive Small Business Rate Relief.

To support their cash flow, the Chancellor has gone further, increasing those grants to £10,000.

Government is working hard to put in place the delivery mechanisms for these grants, and information on how to access support will be available on as soon as confirmed.

A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will launch to support businesses to access bank lending and overdrafts with loans of up to £5m, with the first six months interest free.

For individuals with difficulty in paying their mortgage due to COVID19, the Chancellor announced that lenders will be prepared to provide a three-month mortgage holiday. People in private rented accommodation cannot be evicted for three months.

“There are also support arrangements for those on benefits and further discussions with employer’s organisations and trade unions taking place to consider other measures to support people in work and looking at how those who are renting can be supported.”