A HAMPSHIRE business group has responded to the Chancellor's announcement of a £350bn business bailout amid the Coronavirus outbreak.

Rishi Sunak said the “unprecedented package” – equivalent to 15 per cent of GDP – could go further if demand is greater, and vowed to do “whatever it takes” to help the economy.

The Chancellor, speaking at a press conference inside 10 Downing Street on Tuesday evening, also said he was extending the business rates holiday to all businesses in the hospitality sector and funding grants of up to £25,000 for smaller businesses. 

Now, Hampshire Chamber has responded to the £350bn package helping business affected by Coronavirus.

Ross McNally, Hampshire Chamber Chief Executive and Executive Chairman, said: “We urge any business concerned about cashflow to investigate what immediate support may be available for them.

“This may well be the lifeline that sustains them given the scale of disruption already emerging from the pandemic.

“Government must ensure cash and practical help is prioritised right now for businesses on the front line, including in the worst-affected sectors and supply chains such as hospitality.

“These businesses are essential to their local communities and will play a leading role in helping recovery post Covid-19.

“The support must be quick and easy to access through business-friendly channels. Hampshire Chamber is here to help engage and communicate.

“Further ahead, government must continue to invest in our entrepreneurs and businesses so we can create the job opportunities and growth that will be needed to recover from the impact of the virus.

“This is an unprecedented challenge and many more government measures will be needed before the situation can improve.”