The UK Treasury announced plans for £5billion Restart Grants for businesses that have been hit hardest by pandemic restrictions.
Chief Executive of the Scottish Chambers of Commerce, Dr Liz Cameron, said that additional funds to support the cash flow of businesses that have been hit hardest by restrictions will be “welcome as they face significant challenges in the coming weeks and months”.
She added: “Grants will be a lifeline for companies as they look to restart, rebuild and create jobs as the economy starts to reopen. Businesses need to be at the heart of the decisions made to distribute this support.
“The challenge for the Scottish Government will be to ensure that the consequential funding is distributed as efficiently and easily as possible – and that it is aligned with a roadmap to the easing of restrictions.”
READ MORE: Hospitality debt could be at £1.2bn as grant help 'not enough'
When asked about the proposed changes to the UK’s visa system Dr Cameron responded stated that “an efficient, low-cost and non-bureaucratic immigration system” is crucial to ensuring Scottish universities and businesses can “attract the talent they need”.
She continued: This will be key to maintaining and increasing our world-class research and innovation which will be essential to the quality and speed of the economic recovery.”
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