Responding to record-breaking public sector net borrowing statistics, Liberal Democrat Spokesperson for the Treasury Christine Jardine said: “These record breaking figures are a warning of potential problems ahead. But they mustn’t be used by the Government as an excuse to cut short essential support while the economy reopens.
“Small businesses are concerned about the new Indian variant’s potential threat to the final steps of re-opening. This must be taken into account in the next stage of the recovery.
“The Government must extend the furlough scheme at least until the end of the year, and unroll an ambitious revenue compensation scheme for small businesses that are still struggling.
“We now know the stark reality of the impact of the past year but the pandemic remains a threat to small businesses across the country and the Government’s support must continue.”