The government must move quickly to boost support for businesses across the capital, London Councils has warned.
With annual business rates bills already distributed, the cross-party group is calling on the government to provide an immediate package of support to relieve financial pressures on businesses and avoid mass closures and job losses.
Business rates are set centrally by the government and collected by local authorities.
Considering the potential scale of the economic damage caused by COVID-19, London Councils is clear the government must be ambitious in its measures to keep local businesses afloat.
Cllr Peter John, Chair of London Councils, said:
“Businesses need urgent support if they’re to survive the unprecedented challenges brought about by COVID-19.
“Boroughs will do everything we can to support our local businesses during this hugely difficult time, but only the government has the power and resources to intervene on the scale required.
“If we’re to avoid the worst-case economic scenarios, ministers need to confirm an ambitious package of support – including immediate relief on businesses rates and clear guidance for councils.”