Russell George MS – the Shadow Minister for Business and the Economy – today (May 6) pressed the Welsh Government to alleviate the anxiety felt by businesspeople following the pausing of the Economic Resilience Fund (ERF).
Mr George asked the Business Minister for detail on the next phase of the ERF said that businesses are “… absolutely anxious to find out when it is going to be announced, and what is going to be in it”.
The idea of the ERF is that it should fill gaps left by other schemes to aid businesses during the Covid-19 pandemic and lockdown.
Mr George added that there is particular concern among those in a number of business types who will not meet eligibility criteria, or for other reasons will not benefit from the ERF.
The Shadow Minister focused on the tourism sector, which, he said, forecasts that it will see the 2020 season wiped out in terms of visitors and business.
Speaking later, Mr George said:
“I am pleased that the Minister acknowledged the constructive working relationships we Welsh Conservatives have during this crisis, which is affecting everyone. I was also pleased that he noted that the Treasury has topped up the Non-Domestic Rates Grant Scheme by some £617 million, which will result in consequentials for Wales that he said will be used to bolster business support.
“However, we need to see detail of which gaps are going to be plugged, and when, and with how much financial support.
“We know that the tourism sector in Wales is unlikely to recover before Spring 2021, and without the sort of direct business support the Welsh Government should be providing to plug these gaps, it is likely to devastate these businesses, and possibly the whole sector here in Wales.”