Davey calls for much greater financial support for individuals and businesses

Following the social distancing measures announced by the Prime Minister on 16 March, Liberal Democrat Acting Leader Ed Davey has called for the government to bring in "much, much more extensive support for individuals and for businesses at every single level".

Liberal Democrat Acting Leader Ed Davey said:

"People are afraid for their health, but also for their livelihoods. The financial package the Chancellor is expected to announce today must include much, much more extensive support for individuals and for businesses at every single level and across every single region of the country.

"The Government bailed out the banks and the financial sector with hundreds of billions back in 2008. The Government must now be there for millions of businesses, employees and the self-employed - Britain's real economy.

"The Prime Minister was right to advise social distancing, but to do so without formally closing pubs, restaurants, theatres and so forth, he is undermining many firms' insurance cover and writing these businesses into history. The Government's current approach will prevent many businesses from claiming for any losses, which could lead to widespread collapse.

"People want to know that - in the face of this extraordinary crisis - their livelihoods and businesses are secure. It is in the government's power to provide that certainty and the Liberal Democrats urge the Prime Minister to do so with immediate effect."