Councils hold £1bn grants intended for small firms

It has been claimed that local authorities are holding onto almost £1bn in grants intended for struggling businesses. The Federation of Small Businesses (FSB) is demanding that councils “get their house in order” and pay out the money before firms collapse, highlighting the pressure businesses are facing as inflation spikes and energy and supply chain costs soar, with April’s increase in National Insurance also drawing concern. FSB national chair Mike Cherry said: “Against a backdrop of surging prices and labour shortages, we’re now hurtling towards the unwinding of remaining Covid support measures, a national living wage increase and a regressive hike to National Insurance in April.” He went on to warn: “Unless policy makers intervene before this April flashpoint to alleviate the mounting wider pressures that small firms face, we risk long-term scarring of the economy and local communities.”

 

Daily Express

 

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