BUSINESS experts in East Lancashire have had their say on chancellor Rishi Sunak’s new job support scheme as the UK prepares for the next stage of the coronavirus crisis.

Mr Sunak’s announcement’s include a scheme available to small and medium sized enterprises that will top up workers’ wages, albeit on shorter working hours, after October 31, changes to the bounce back loan repayment scheme that will give firms more time to pay back funds and plans to keep VAT at 5% for the hospitality and tourist trade.

Jane Parry, managing partner at Blackburn accountancy firm PM+M, welcomed the announcements.

She said: “The news that it is available to all small and medium sized enterprises is exactly the kind of clarity they need to weather the next six months and the expected continued downturn.

“Businesses can now plan for the future and keep the talents of their employees at the heart of their organisations.”

She added: “On the face of it, everything announced today has got to be applauded.

“However, the devil is in the detail so we need to wait for more information to be published so we fully understand the impact all of this will have.”

Ms Parry also said that she was pleased to see more support from the chancellor for self-employed people, many of whom had missed out during the first phase of the pandemic.

She said: “I was also pleased to hear that he hadn’t forgotten about the self-employed, some of whom did fall through the cracks at the start of the crisis.

“The extension of the self-employed grant is great news and will, once again, give peace of mind to those working for themselves and reassurance that they are valued and supported.”

East Lancashire Chamber of Commerce also welcomed the proposals but stressed that the government must remain open to further measure if the situation worsens.

A spokesperson said: “The chancellor must remain open to taking additional action to support parts of the economy facing unprecedented challenges over the months ahead.

“Chambers of Commerce across the UK will continue to work with government to ensure the benefits of these schemes are delivered to firms on the ground.”

Meanwhile, North West TUC, which has called for more support for workers and those on furlough throughout the crisis, have said that they welcomed protection for jobs over the winter months.

Regional Secretary Bill Adams said: " "Unions have been pushing hard for continued jobs support for working people. We are pleased the Chancellor has listened and done the right thing.

However, the organisation has also argued that the chancellor must go further to ensure that regions like theirs are not left behind and that the plan for a recovery must involve representatives from all sides of industry.

Mr Adams said: “A Regional Recovery Council should now be convened, bringing together government, business and unions.

“We’ve got the potential to create 60,000 new, green jobs in our region if we fast track existing infrastructure schemes.

“We can use the winter months to plan an economic spring, with fair rewards for key workers and good new jobs in green industry.

Let's get moving on a regional plan to build that together."