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Sunday, September 27, 2020

£330bn of support against Coronavirus impact

Boris Johnston has made a promise to help family and business as the impact from the Coronavirus grows.

The Prime Minister referred to ‘extra measures’ in order to protect lives and said that ‘we must act like a war time government. Warning that the months ahead will be tough.

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Alongside Mr Johnston stood Rishi Sunak the Chancellor who said £330bn would be set aside to support government backed loans and guarantees to protects the fallout from the Coronavirus for small, medium and large businesses.

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For smaller businesses, the government are to back £25,000 cash grants per business alongside what the Chancellor describes as a ‘business rate holiday’, lasting for 3 months if approved by the Northern Ireland Executive, as this is a dissolved matter..

It’s wasn’t all about businesses, a support of £1bn will go towards vulnerable people in the social welfare system. Included also was allege that mortgage lenders will be providing a three moth mortgage reprive for those who may require it.

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